Glendon Capital Management LP Reduces Stake in WesBanco, Inc. (NASDAQ:WSBC)

Glendon Capital Management LP cut its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) 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 period. 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of WSBC. Vanguard Group Inc. lifted its stake in shares of WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock worth $218,361,000 after acquiring an additional 705,483 shares during the last quarter. Wellington Management Group LLP bought a new stake in WesBanco during the 3rd quarter valued at $116,114,000. State Street Corp grew its stake in WesBanco by 1.8% in the third quarter. State Street Corp now owns 1,934,453 shares of the financial services provider's stock valued at $58,313,000 after purchasing an additional 35,030 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of WesBanco by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock worth $48,888,000 after acquiring an additional 82,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of WesBanco by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock worth $28,376,000 after purchasing an additional 50,704 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

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WesBanco Price Performance

Shares of WSBC traded up $0.21 during trading hours on Tuesday, hitting $27.92. 172,573 shares of the stock were exchanged, compared to its average volume of 641,650. The stock's 50-day moving average price is $33.44 and its two-hundred day moving average price is $32.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 12.43 and a beta of 0.76. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its 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 net margin of 15.89% and a return on equity of 6.30%. Research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco's dividend payout ratio (DPR) is 66.07%.

Wall Street Analyst Weigh In

A number of analysts have commented on WSBC shares. Stephens reaffirmed an "equal weight" rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Raymond James reduced their price objective on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler assumed coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target for the company. DA Davidson raised their target price on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Three equities research 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 company. According to data from MarketBeat, WesBanco presently has a consensus rating of "Moderate Buy" and an average price target of $39.43.

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.