Glendon Capital Management LP Sells 140,000 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Glendon Capital Management LP cut its position in WesBanco, Inc. (NASDAQ:WSBC) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 769,091 shares of the financial services provider’s stock after selling 140,000 shares during the period. WesBanco comprises about 1.5% of Glendon Capital Management LP’s portfolio, making the stock its 11th biggest holding. Glendon Capital Management LP’s holdings in WesBanco were worth $25,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of WesBanco by 3.0% in the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 867 shares in the last quarter. FMR LLC boosted its holdings in WesBanco by 25.8% in the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock valued at $20,712,000 after purchasing an additional 142,597 shares during the period. Quantbot Technologies LP grew its position in shares of WesBanco by 2,061.7% during the 3rd quarter. Quantbot Technologies LP now owns 12,603 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 12,020 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of WesBanco by 21.9% during the third quarter. BNP Paribas Financial Markets now owns 21,380 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 3,844 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of WesBanco in the third quarter valued at approximately $296,000. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Stock Performance

Shares of WesBanco stock opened at $31.05 on Thursday. The company 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 current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $33.82 and a two-hundred day moving average price of $33.00. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36.

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

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.77%. WesBanco’s dividend payout ratio (DPR) is presently 66.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WSBC shares. 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 research note on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $39.00 price target on shares of WesBanco in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised shares of 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. StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, DA Davidson upped their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.83.

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.