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

Wellington Management Group LLP trimmed its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 53.4% during the fourth quarter, according to the company in its most recent 13F filing with the 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of WesBanco in the 4th quarter valued at about $328,000. Inspire Advisors LLC raised its stake in WesBanco by 18.7% in the fourth quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider's stock valued at $2,056,000 after purchasing an additional 9,955 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in WesBanco during the fourth quarter valued at approximately $323,000. Bank of America Corp DE grew its stake in WesBanco by 8.2% in the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after buying an additional 116,796 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of WesBanco by 13.4% in the 4th quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock worth $16,015,000 after buying an additional 58,214 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

Wall Street Analyst Weigh In

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

WesBanco Trading Up 1.2%

WSBC stock traded up $0.35 during trading on Tuesday, reaching $30.68. The company had a trading volume of 92,218 shares, compared to its average volume of 449,167. The business has a 50 day moving average of $29.92 and a 200 day moving average of $32.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $2.94 billion, a P/E ratio of 13.70 and a beta of 0.81. WesBanco, Inc. has a 52 week low of $25.56 and a 52 week high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period in the previous year, the company posted $0.56 earnings per share. As a group, sell-side analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.82%. WesBanco's dividend payout ratio (DPR) is currently 96.73%.

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.