Wellington Management Group LLP Has $59.11 Million Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Wellington Management Group LLP lessened its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 53.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,816,451 shares of the financial services provider’s stock after selling 2,082,619 shares during the quarter. Wellington Management Group LLP owned 2.72% of WesBanco worth $59,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of WesBanco during the third quarter worth about $56,000. Principal Securities Inc. raised its holdings in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after buying an additional 603 shares during the period. Roble Belko & Company Inc bought a new position in WesBanco in the fourth quarter valued at approximately $78,000. Allworth Financial LP boosted its holdings in shares of WesBanco by 668.5% in the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,146 shares during the period. Finally, Hilltop National Bank increased its position 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 in the last quarter. 61.41% of the stock is currently owned by institutional investors.

WesBanco Price Performance

NASDAQ:WSBC opened at $27.80 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $33.59 and a 200 day simple moving average of $32.96. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The stock has a market capitalization of $1.86 billion, a PE ratio of 12.41 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share 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%. On average, research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 5.32%. WesBanco’s dividend payout ratio is currently 66.07%.

Wall Street Analyst Weigh In

WSBC has been the subject of a number of research analyst reports. Piper Sandler began coverage on shares of WesBanco in a research note on Thursday. They issued an “overweight” rating and a $37.00 target price for the company. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $44.00 in a report on Monday, February 10th. Raymond James reduced their price target on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research report on Wednesday. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, DA Davidson increased their target price on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.43.

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.