WesBanco, Inc. (NASDAQ:WSBC) Holdings Cut by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lessened its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,818 shares of the financial services provider’s stock after selling 1,090 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in WesBanco were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Quarry LP acquired a new position in WesBanco in the first quarter worth approximately $35,000. Ancora Advisors LLC acquired a new position in WesBanco in the first quarter worth approximately $43,000. Sound Income Strategies LLC grew its position in WesBanco by 2,688.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,425 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in WesBanco in the fourth quarter worth approximately $50,000. Finally, Tower Research Capital LLC TRC grew its position in WesBanco by 552.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,625 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,376 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

WSBC has been the topic of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.75.

WesBanco Trading Up 2.8 %

WesBanco stock opened at $28.34 on Friday. The company has a 50 day moving average price of $28.63 and a 200 day moving average price of $28.11. WesBanco, Inc. has a 52 week low of $19.84 and a 52 week high of $32.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.29 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). WesBanco had a return on equity of 6.94% and a net margin of 19.11%. The firm had revenue of $221.47 million during the quarter, compared to analyst estimates of $146.70 million. During the same period in the prior year, the business posted $0.84 EPS. Research analysts forecast that WesBanco, Inc. will post 2.27 EPS for the current year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Thursday, March 7th. WesBanco’s dividend payout ratio (DPR) is currently 57.37%.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.