Wellington Management Group LLP Sells 2,082,619 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Wellington Management Group LLP lowered its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 53.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 2.71% of WesBanco worth $59,107,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WSBC. Barclays PLC raised its holdings in WesBanco by 151.1% during the 3rd quarter. Barclays PLC now owns 181,325 shares of the financial services provider's stock worth $5,399,000 after buying an additional 109,104 shares during the period. Empowered Funds LLC increased its position in shares of WesBanco by 5.1% during the fourth quarter. Empowered Funds LLC now owns 195,398 shares of the financial services provider's stock worth $6,358,000 after acquiring an additional 9,466 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of WesBanco during the fourth quarter worth $207,000. Kentucky Trust Co acquired a new stake in shares of WesBanco during the fourth quarter worth $126,000. Finally, Naples Global Advisors LLC bought a new stake in WesBanco in the 4th quarter valued at $208,000. Institutional investors and hedge funds own 61.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Wall Street Zen upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Raymond James cut their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler initiated coverage on WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Stock Down 0.0%

WSBC traded down $0.01 during trading hours on Friday, hitting $30.90. 537,822 shares of the company's stock were exchanged, compared to its average volume of 450,287. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The stock's 50-day moving average is $29.95 and its two-hundred day moving average is $32.58. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 13.79 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. The business had revenue of $253.23 million during the quarter, compared to analysts' expectations of $206.63 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. Sell-side analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Friday, June 6th. WesBanco's dividend payout ratio is currently 96.73%.

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.