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

Wellington Management Group LLP cut its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 53.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,816,451 shares of the financial services provider’s stock after selling 2,082,619 shares during the period. Wellington Management Group LLP’s holdings in WesBanco were worth $59,107,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider’s stock worth $218,361,000 after purchasing an additional 705,483 shares during the period. MCF Advisors LLC boosted its position in shares of WesBanco by 17,801.0% in the fourth quarter. MCF Advisors LLC now owns 170,955 shares of the financial services provider’s stock valued at $5,626,000 after acquiring an additional 170,000 shares during the period. Raymond James Financial Inc. bought a new stake in shares of WesBanco in the fourth quarter valued at about $5,345,000. Segall Bryant & Hamill LLC increased its position in WesBanco by 25.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider’s stock worth $25,396,000 after acquiring an additional 156,903 shares during the period. Finally, New York State Common Retirement Fund raised its stake in WesBanco by 30.5% in the 4th quarter. New York State Common Retirement Fund now owns 653,656 shares of the financial services provider’s stock worth $21,270,000 after purchasing an additional 152,766 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. DA Davidson raised their price objective on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James cut their target price 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 WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Stephens reaffirmed an “equal weight” rating and set a $39.00 price objective on shares of WesBanco in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.43.

WesBanco Stock Performance

NASDAQ:WSBC opened at $27.80 on Friday. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month 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. The stock’s 50-day simple moving average is $33.59 and its 200 day simple moving average is $32.96. The firm has a market capitalization of $1.86 billion, a PE ratio of 12.41 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating 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, analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $0.37 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a yield of 5.32%. WesBanco’s 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.