Wellington Management Group LLP Boosts Position in WesBanco, Inc. $WSBC

Key Points

• Wellington Management Group LLP increased its stake in WesBanco, Inc. by 35.2% during the first quarter, owning 2,456,454 shares valued at approximately $76 million.
• WesBanco recently announced a quarterly dividend of $0.37 per share for investors of record, reflecting a dividend yield of 4.5%.
• Analysts currently have a consensus rating of "Moderate Buy" for WesBanco, with an average target price of $38.83, following recent decreases in price objectives from major firms.

Wellington Management Group LLP grew its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 35.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,456,454 shares of the financial services provider's stock after purchasing an additional 640,003 shares during the quarter. Wellington Management Group LLP owned about 3.67% of WesBanco worth $76,052,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WSBC. Swiss National Bank increased its stake in WesBanco by 58.8% during the 1st quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock valued at $5,758,000 after purchasing an additional 68,832 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of WesBanco by 258.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock worth $1,215,000 after buying an additional 28,302 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in WesBanco by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock worth $8,009,000 after acquiring an additional 17,172 shares during the period. LPL Financial LLC raised its stake in WesBanco by 44.9% during the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock worth $1,982,000 after acquiring an additional 19,836 shares during the period. Finally, Keybank National Association OH bought a new stake in WesBanco during the 1st quarter worth approximately $2,108,000. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

Shares of WesBanco stock traded down $0.12 during midday trading on Thursday, hitting $32.77. The company had a trading volume of 32,146 shares, compared to its average volume of 591,039. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 19.73 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $31.70 and a 200 day simple moving average of $31.50. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The company had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. During the same period last year, the firm posted $0.49 EPS. As a group, analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a yield of 4.5%. WesBanco's dividend payout ratio (DPR) is currently 89.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WSBC shares. Royal Bank Of Canada reduced their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.83.

WesBanco 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.