Cornerstone Financial Partners LLC Acquires New Holdings in WesBanco Inc (WSBC)

Cornerstone Financial Partners LLC acquired a new stake in WesBanco Inc (NASDAQ:WSBC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,319 shares of the financial services provider’s stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its stake in WesBanco by 6.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 229 shares during the period. Amalgamated Bank acquired a new position in WesBanco in the second quarter valued at about $211,000. Stifel Financial Corp acquired a new position in WesBanco in the third quarter valued at about $220,000. Susquehanna International Group LLP acquired a new position in WesBanco in the second quarter valued at about $236,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in WesBanco by 4.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,052 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 269 shares during the period. Institutional investors and hedge funds own 59.14% of the company’s stock.

WesBanco Inc (WSBC) opened at $41.82 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $1,872.73, a PE ratio of 17.87, a PEG ratio of 1.43 and a beta of 1.00. WesBanco Inc has a 52-week low of $34.81 and a 52-week high of $43.77.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. WesBanco’s dividend payout ratio is currently 44.44%.

A number of research firms have issued reports on WSBC. DA Davidson set a $48.00 target price on WesBanco and gave the company a “buy” rating in a research note on Thursday, December 21st. Boenning Scattergood reissued a “hold” rating on shares of WesBanco in a research note on Friday, October 20th. BidaskClub cut WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Zacks Investment Research raised WesBanco from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Saturday, January 6th. Finally, FBR & Co set a $40.00 target price on WesBanco and gave the company a “hold” rating in a research note on Friday, October 20th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. WesBanco presently has an average rating of “Hold” and a consensus price target of $43.00.

In other news, Director F Eric Nelson, Jr. sold 12,500 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $42.06, for a total transaction of $525,750.00. Following the completion of the transaction, the director now directly owns 29,717 shares of the company’s stock, valued at $1,249,897.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.05% of the stock is owned by corporate insiders.

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WesBanco Profile

WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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