WesBanco, Inc. (NASDAQ:WSBC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 53.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 approximately 2.72% of WesBanco worth $59,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WSBC. Point72 Asset Management L.P. acquired a new stake in WesBanco during the 3rd quarter worth about $56,000. Principal Securities Inc. lifted its position 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 acquiring an additional 603 shares during the period. Roble Belko & Company Inc acquired a new stake in WesBanco during the 4th quarter worth about $78,000. Allworth Financial LP lifted its position in WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after acquiring an additional 2,146 shares during the period. Finally, Hilltop National Bank lifted its position in WesBanco by 19.6% during the 4th 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 during the period. Institutional investors own 61.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on WSBC. Stephens reiterated an "equal weight" rating and set a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Raymond James lowered their price objective on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Piper Sandler began coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upgraded WesBanco from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $40.00 to $44.00 in a report on Monday, February 10th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.43.

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WesBanco Price Performance

Shares of WesBanco stock traded down $1.69 on Thursday, hitting $27.10. 67,215 shares of the company were exchanged, compared to its average volume of 390,417. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 12.19 and a beta of 0.76. The company has a 50-day moving average price of $32.89 and a 200 day moving average price of $32.84. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. 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 issued its earnings results 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 return on equity of 6.30% and a net margin of 15.89%. As a group, sell-side analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco's dividend payout ratio is presently 66.07%.

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.