Glendon Capital Management LP Has $25.03 Million Stake in WesBanco, Inc. (NASDAQ:WSBC)

Glendon Capital Management LP lowered its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 15.4% 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 769,091 shares of the financial services provider’s stock after selling 140,000 shares during the quarter. WesBanco accounts for about 1.5% of Glendon Capital Management LP’s portfolio, making the stock its 11th biggest position. Glendon Capital Management LP owned about 1.15% of WesBanco worth $25,026,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new stake in WesBanco during the 3rd quarter worth approximately $116,114,000. Vanguard Group Inc. lifted its position in WesBanco by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider’s stock valued at $218,361,000 after acquiring an additional 705,483 shares in the last quarter. MCF Advisors LLC lifted its position in WesBanco by 17,801.0% in the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new position in WesBanco in the 4th quarter worth $5,345,000. Finally, Segall Bryant & Hamill LLC increased its holdings in WesBanco by 25.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider’s stock worth $25,396,000 after purchasing an additional 156,903 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Stock Performance

Shares of WSBC stock opened at $31.05 on Thursday. The stock has a market cap of $2.08 billion, a P/E ratio of 13.86 and a beta of 0.84. The company has a fifty day moving average price of $33.82 and a two-hundred day moving average price of $33.00. WesBanco, Inc. has a one year low of $25.56 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

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

WesBanco Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 4.77%. WesBanco’s dividend payout ratio is currently 66.07%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WSBC shares. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Raymond James decreased their price target on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research note on Wednesday. DA Davidson boosted their price objective on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $39.00 price target on shares of WesBanco in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.83.

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.