Bridgeway Capital Management LLC Sells 96,158 Shares of WesBanco, Inc. $WSBC

Key Points

• Bridgeway Capital Management LLC has reduced its stake in WesBanco by 29.2%, selling 96,158 shares, leaving them with 233,240 shares valued at approximately $7.2 million.
• Vanguard Group Inc. and other institutional investors increased their holdings in WesBanco, with Vanguard raising its stake by 40.3% to over 9.4 million shares.
• WesBanco recently reported an EPS of $0.91, surpassing analyst expectations, and announced a quarterly dividend of $0.37 per share, yielding 4.5%.

Bridgeway Capital Management LLC lowered its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 29.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 233,240 shares of the financial services provider's stock after selling 96,158 shares during the period. Bridgeway Capital Management LLC owned approximately 0.35% of WesBanco worth $7,221,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Swiss National Bank increased its stake in shares of WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock worth $5,758,000 after purchasing an additional 68,832 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in WesBanco by 258.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after buying an additional 28,302 shares in the last quarter. Envestnet Asset Management Inc. increased its position in WesBanco by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock worth $8,009,000 after buying an additional 17,172 shares during the period. LPL Financial LLC lifted its holdings in shares of WesBanco by 44.9% during the first quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock worth $1,982,000 after buying an additional 19,836 shares in the last quarter. Finally, Keybank National Association OH bought a new stake in shares of WesBanco in the first quarter valued at about $2,108,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Performance

Shares of WSBC stock traded up $0.19 on Wednesday, hitting $31.78. The company's stock had a trading volume of 91,418 shares, compared to its average volume of 581,843. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a market capitalization of $3.05 billion, a PE ratio of 19.16 and a beta of 0.85. The stock's 50 day moving average is $31.91 and its 200-day moving average is $31.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The firm had revenue of $260.73 million during the quarter, compared to the consensus estimate of $261.14 million. During the same quarter in the previous year, the firm posted $0.49 EPS. Equities research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, September 5th. WesBanco's dividend payout ratio (DPR) is 89.16%.

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.