Proficio Capital Partners LLC Invests $328,000 in WesBanco, Inc. (NASDAQ:WSBC)

Proficio Capital Partners LLC bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBC) during the fourth quarter, HoldingsChannel reports. The fund bought 10,091 shares of the financial services provider’s stock, valued at approximately $328,000.

A number of other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in WesBanco during the 3rd quarter worth $56,000. Principal Securities Inc. increased its stake in WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after buying an additional 603 shares during the period. Roble Belko & Company Inc acquired a new position in WesBanco in the 4th quarter valued at $78,000. Allworth Financial LP raised its position in WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,146 shares during the last quarter. Finally, Hilltop National Bank increased its stake in shares of WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 413 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and raised their price target for the company from $40.00 to $44.00 in a report on Monday, February 10th. Stephens reissued an “equal weight” rating and set a $39.00 price objective on shares of WesBanco in a report on Thursday, January 23rd. DA Davidson increased their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.83.

WesBanco Stock Down 0.3 %

Shares of NASDAQ:WSBC opened at $32.25 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.40 and a beta of 0.84. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36. The stock’s fifty day simple moving average is $33.90 and its 200-day simple moving average is $32.98.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, equities research analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is 66.07%.

About WesBanco

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.