Wesbanco Inc Stock Price, News & Analysis

WesBanco (WSBC) and Premier Financial Corp. (PFC) announced shareholder approval for their merger agreement, with 85% of WesBanco votes and 68% of Premier votes supporting the deal. The merger, expected to close in Q1 2025 pending regulatory approvals, will create a $27 billion asset regional financial institution.

The combined entity will become the 8th largest bank in Ohio by deposit market share, with expanded presence in Indiana and operations across nine states. WesBanco currently holds $18.5 billion in total assets, with $6.1 billion in assets under management and $1.9 billion in securities account values as of September 30, 2024.

WesBanco Inc. (Nasdaq: WSBC) has appointed Jan Pattishall-Krupinski as Senior Executive Vice President and Chief Administrative Officer, effective immediately. In her new role, she will oversee bank and loan operations, customer service, corporate strategy, and project management, reporting directly to CEO Jeff Jackson. Pattishall-Krupinski, who joined WesBanco in 2011, previously served as Executive Vice President and Director of Operations. The company, with $18.5 billion in total assets and $6.1 billion in assets under management, operates across eight states providing retail and commercial banking, trust, brokerage, wealth management, and insurance services.

WesBanco (WSBC) has announced a 2.8% increase in its quarterly cash dividend to $0.37 per common share, up from $0.36. The dividend will be paid on January 2, 2025, to shareholders of record on December 6, 2024. This marks the company's eighteenth dividend increase since 2010, representing a cumulative increase of 164%. The new annualized dividend rate is $1.48 per share, yielding approximately 4.2% based on the closing stock price of $35.26. WesBanco currently manages $18.5 billion in total assets, with $6.1 billion in assets under management and $1.9 billion in securities account values.

WesBanco (Nasdaq: WSBC) has appointed Chuck Chiatto as Western Pennsylvania Market President and Senior Commercial Banker. Chiatto, who brings over 20 years of commercial banking experience, will lead the growth of WesBanco's commercial lending business in the Western PA region, which includes 5 counties and more than 25 financial centers. He previously served as Senior Vice President at City National Bank and held positions at BB&T and Huntington Bank. Chiatto replaces Tony Rocco, who is retiring after 31 years of service. WesBanco currently manages $18.5 billion in total assets, with $6.1 billion in Trust and Investment Services assets under management.

WesBanco (WSBC) reported Q3 2024 net income of $34.7 million, or $0.54 per share, compared to $34.3 million, or $0.58 per share in Q3 2023. The company demonstrated strong growth with total loans increasing 10.0% year-over-year to $12.5 billion and deposits rising 5.7% to $13.8 billion. Key highlights include sequential quarter deposit growth of 12.1% annualized and loan growth of 6.3% annualized. Trust assets under management reached a record $6.1 billion, up 21.7% year-over-year. The company successfully raised $200 million in common equity during the quarter and maintains strong regulatory capital ratios.

Premier Financial Corp. (Nasdaq: PFC) announced its third-quarter 2024 results, highlighting a strategic merger with Wesbanco, Inc. Earnings per share (EPS) were $0.46, or $0.54 excluding transaction costs, up $0.01 and $0.09 respectively from Q2. Net income was $16.7 million, down from $24.7 million in Q3 2023. Net interest margin increased to 2.50%, while net interest income rose 1.9% sequentially but fell 7.5% year-over-year. Non-interest income was $12.6 million, up 4.1% sequentially but down 5.1% year-over-year. Non-interest expenses excluding transaction costs were $39.1 million, a slight increase from Q2 and Q3 2023. Non-performing assets rose to $82.3 million, while loan delinquencies decreased to $17.2 million. The merger is expected to close in Q1 2025, with PFC shareholders owning 30% of the combined company. A dividend of $0.31 per share was declared, payable on November 15, 2024.

WesBanco, Inc. (Nasdaq: WSBC) has announced it will host a conference call and webcast on Thursday, October 24, 2024, at 3:00 p.m. ET to review its third quarter 2024 financial results. The results are expected to be released after market close on Wednesday, October 23, 2024. President and CEO Jeffrey H. Jackson and CFO Daniel K. Weiss, Jr. will lead the call.

Interested parties can access the live webcast through WesBanco's Investor Relations website or dial in to listen. A replay will be available until November 7, 2024. WesBanco, with over 150 years of history, is a multi-state bank holding company with $18.1 billion in total assets and $5.6 billion in assets under management as of June 30, 2024.

WesBanco, Inc. (Nasdaq: WSBC) has announced a quarterly cash dividend on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq: WSBCP). The dividend covers the period from August 15, 2024, to November 15, 2024, and amounts to $0.421875 per depositary share, or $16.875 per share of Series A Preferred Stock. The dividend will be payable on November 15, 2024, to shareholders of record on November 1, 2024.

WesBanco is a diversified, multi-state bank holding company with over 150 years of experience. As of June 30, 2024, WesBanco had $18.1 billion in total assets, with Trust and Investment Services holding $5.6 billion of assets under management and securities account values of $1.8 billion through its broker/dealer.

WesBanco Bank, a subsidiary of WesBanco, Inc. (Nasdaq: WSBC), has appointed Cris Gossard as Central Ohio Market President and Senior Commercial Banker. This strategic move aims to enhance the bank's market presence and drive growth in commercial lending in the region. Gossard, who joined WesBanco in 2022, brings over 30 years of experience in commercial sales and banking. He will collaborate with leaders across various business lines to optimize local market opportunities and support customers' banking needs.

Gossard's appointment aligns with WesBanco's commitment to delivering exceptional banking services in Central Ohio. With $18.1 billion in total assets and $5.6 billion in assets under management, WesBanco continues to strengthen its position as a community-focused, regional financial services partner across its eight-state footprint.