Welcome to our dedicated page for WesBanco news (Ticker: WSBC), a resource for investors and traders seeking the latest updates and insights on WesBanco stock.
WesBanco Inc. (Nasdaq: WSBC) is a seasoned bank holding company headquartered in Wheeling, West Virginia. WesBanco has built a distinguished reputation over the past decade for being a secure, sound, and profitable organization.
WesBanco operates primarily through its subsidiary, WesBanco Bank, Inc., which runs over 190 financial centers across six states, including Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia. The company offers a comprehensive range of financial services, encompassing retail and corporate banking, personal and corporate trust services, brokerage services, mortgage banking, and insurance. WesBanco's services are designed to meet the diverse needs of individuals, businesses, and communities.
One of WesBanco's key strengths lies in its dual focus on technology and personal customer service. By leveraging advanced technology and maintaining a community bank orientation, WesBanco ensures efficient and effective service delivery. The company’s banking operations are divided into two main segments: community banking and trust and investment services.
In the realm of financial stability, WesBanco has demonstrated solid performance. For instance, as of the end of 2023, the company reported total portfolio loans of $11.6 billion, an 8.7% year-over-year increase. They also maintained a robust net interest margin, despite industry challenges such as rising federal fund rates.
WesBanco’s leadership team has also seen recent changes, with Jeffrey H. Jackson assuming the role of President and Chief Executive Officer as of August 1, 2023. Jackson's leadership is expected to build on the firm foundation laid by his predecessor, focusing on further growth and innovation.
WesBanco is also committed to maintaining strong capital levels and credit quality, ensuring a secure financial environment for its stakeholders. The company’s distinct long-term growth strategies and sustainable competitive advantages enable it to serve its markets effectively.
For more information, visit www.wesbanco.com and follow WesBanco on Facebook, LinkedIn, and X, formerly known as Twitter.
WesBanco, Inc. (Nasdaq: WSBC) has been named by Forbes as one of the Best Banks in America for 2021, marking its 11th appearance since 2010 and its second consecutive year in the top 15, ranking 12th. CEO Todd F. Clossin highlighted the achievement as a testament to the dedication of its employees and the bank's robust credit and risk management. The ranking is based on various financial metrics as of September 30, 2020, including return on assets and capital ratios. Founded in 1870, WesBanco operates in six states, combining large bank capabilities with a community-oriented approach.
WesBanco, Inc. (Nasdaq:WSBC) announced the participation of President and CEO Todd F. Clossin and CFO Robert H. Young at the KBW Virtual Winter Financial Services Symposium on February 11-12, 2021. The event will not feature a formal presentation or a webcast. Founded in 1870, WesBanco operates in six states and offers a comprehensive range of financial services, including banking, trust, and wealth management, with approximately $5.0 billion in assets under management as of December 31, 2020.
WesBanco, Inc. (NASDAQ: WSBC) reported strong financial results for Q4 and the full year 2020. Q4 net income was $50.2 million, with EPS of $0.75, up from $36.4 million and $0.60 respectively in Q4 2019. Full-year net income dropped to $119.4 million ($1.77 EPS) from $158.9 million ($2.83 EPS) in 2019, affected by the adoption of the CECL standard. Notably, pre-tax, pre-provision income rose 14.2% YoY to $64.8 million in Q4. Total deposits increased by 13% to $12.4 billion, and loans grew by 5.1%, driven by ongoing support for small businesses during the pandemic.
WesBanco, Inc. (Nasdaq:WSBC) announced a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq:WSBCP). This dividend, applicable for the period from November 15, 2020 to February 15, 2021, totals $16.875 per share. It will be paid on February 15, 2021 to shareholders on record as of February 1, 2021.
WesBanco, Inc. (Nasdaq: WSBC) will host a conference call on January 27, 2021, at 10:00 a.m. ET to discuss its fourth-quarter 2020 financial results. The results will be released after the market closes on January 26, 2021. Interested parties can access the call via their website or by phone. A replay will be available starting at 12:00 p.m. ET on January 27, lasting until February 10, 2021. WesBanco operates across six states, focusing on customer-centric banking services.
WesBanco, Inc. (Nasdaq:WSBC) has announced a quarterly cash dividend of $0.32 per share, to be paid on January 2, 2021. Shareholders of record as of December 11, 2020 will receive this dividend, reflecting an annualized rate of $1.28 per common share. WesBanco provides a range of financial services across six states, with a focus on community banking and customer service. The company manages approximately $4.6 billion in assets as of September 30, 2020.
WesBanco has declared a quarterly cash dividend of $0.440625 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP). This dividend is applicable for the period from August 11, 2020 to November 15, 2020 and will be paid on November 15, 2020 to shareholders on record as of November 2, 2020. The dividend reflects WesBanco's commitment to returning value to shareholders while maintaining a stable financial position.
WesBanco reported Q3 2020 net income of $41.3 million, or $0.61 EPS, down from $37.3 million and $0.68 a year earlier. Year-to-date, net income fell 43% to $69.2 million, or $1.03 EPS. Non-GAAP earnings were $44.2 million, or $0.66 EPS. Organic loan growth was 10%, while commercial real estate loans rose 4.9%. Mortgage banking income soared 228% to $8.5 million. The bank issued $150 million in preferred stock to enhance capital. However, criticized loan balances rose to 3.25%, driven by pandemic impacts on the hotel sector.
WesBanco, Inc. (Nasdaq: WSBC) announced it will host a conference call on October 22, 2020, at 3:00 p.m. ET to discuss the third quarter financial results. The results will be released after market close on October 21, 2020. CEO Todd F. Clossin and CFO Robert H. Young will lead the discussion. Interested parties can listen to the call via webcast or by dialing in. A replay will be available starting at 5:00 p.m. ET on October 22, and will conclude on November 5. WesBanco operates 236 financial centers across six states.
FAQ
What is the current stock price of WesBanco (WSBC)?
What is the market cap of WesBanco (WSBC)?
What services does WesBanco Inc. offer?
Where is WesBanco headquartered?
How many financial centers does WesBanco operate?
Who is the current CEO of WesBanco?
What are WesBanco’s core business segments?
What is WesBanco's approach to customer service?
How has WesBanco performed financially recently?
What are WesBanco's strategic initiatives for growth?
Where can I learn more about WesBanco's services and updates?
What recent changes have occurred in WesBanco’s leadership?
