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) announced the promotion of Scott Love to Executive Vice President of Wealth Management, succeeding Jon Dargusch, who retired on December 31, 2022. Love, who joined the bank in 2012, has over 20 years of investment experience and previously served as Chief Investment Strategist. Under Dargusch's leadership, the wealth management division grew significantly, with assets under management increasing by 60% to $4.6 billion by September 30, 2022. WesBanco has been recognized as a top midsize bank for employee satisfaction and financial success.
WesBanco, Inc. (Nasdaq:WSBC) has announced a conference call scheduled for January 25, 2023, at 10:00 a.m. ET to discuss its fourth quarter 2022 financial results. The results will be released after market close on January 24, 2023. The call will feature President and CEO Todd F. Clossin, COO Jeffrey H. Jackson, and CFO Daniel K. Weiss, Jr. Participants can join the call via phone or through a live webcast on WesBanco's Investor Relations website. A replay will be available from January 25 to February 8, 2023.
WesBanco, Inc. (Nasdaq:WSBC) has appointed Abdul Muhammad as the new Central Kentucky Market President, while he retains his role as Regional Sales Manager for Central Kentucky and Southern Indiana. Muhammad brings over 25 years of banking experience and has contributed to WesBanco's growth and community engagement. Under his leadership, the bank aims to enhance residential lending and strengthen market strategies. WesBanco is recognized for its commitment to employee satisfaction and community service, operating 194 financial centers across six states.
WesBanco, Inc. (Nasdaq:WSBC) announced a 2.9% increase in its quarterly cash dividend, raising it from $0.34 to $0.35 per share. This change is effective for payments on January 3, 2023, for shareholders recorded by December 9, 2022. This marks the sixteenth dividend increase since 2010, totaling a 150% increase during this period. The annualized dividend now stands at $1.40 per share, providing a yield of approximately 3.5% based on the closing stock price of $40.27.
WesBanco reported net income of $50.5 million and diluted EPS of $0.85 for Q3 2022, a rise from $41.9 million and $0.64 in Q3 2021. For the nine months ending September 30, 2022, net income was $132.3 million or $2.19 per diluted share, down from $180.5 million or $2.71 per share in 2021. The bank achieved a 6.5% year-over-year increase in total loans and a 3.33% net interest margin. Non-interest income fell 1.5% year over year, primarily due to lower mortgage banking income. WesBanco remains well-capitalized with a Tier I risk-based capital ratio of 12.51%.
WesBanco, Inc. (Nasdaq:WSBC) will hold a conference call on October 26, 2022, to discuss its third-quarter financial results. The results will be released after market close on October 25, 2022. The call will feature CEO Todd F. Clossin and CFO Daniel K. Weiss, Jr. Interested participants can access the call via the company's website or by dialing provided numbers. A replay will be available starting 12:00 p.m. ET on October 26, remaining accessible until November 9, 2022.
WesBanco has declared a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP). This dividend is for the period from August 15, 2022 to November 15, 2022, and is payable on November 15, 2022 to shareholders of record on November 1, 2022. This reflects the company's commitment to returning value to its investors amidst a challenging economic environment.
WesBanco, Inc. (Nasdaq:WSBC) announced its participation in two investor conferences: the Raymond James U.S. Bank Conference in Chicago on September 7, 2022, and the Janney Community Bank Forum in Atlanta on September 19-20, 2022. No formal presentations or webcasts will be available for these events. Founded in 1870, WesBanco offers a range of financial services across six states, with a strong emphasis on customer service and sustainable growth. The company manages approximately $4.8 billion in assets as of June 30, 2022.
WesBanco, Inc. (WSBC) has opened a new financial center in downtown Charleston, WV, revitalizing the area. The WesBanco Center combines historic architecture with modern design and offers a suite of digital banking services alongside personal customer support. Market President Toby Taylor emphasized the bank's commitment to customer relationships and community engagement. The bank has received numerous accolades, including being named one of the World's Best Banks and Best Big Bank in West Virginia. WesBanco operates 194 financial centers across six states, managing approximately $4.8 billion in assets.
WesBanco, Inc. (NASDAQ: WSBC) announced a quarterly cash dividend of $0.34 per share, payable on October 1, 2022 to shareholders of record by September 9, 2022. This dividend represents an annualized cash dividend rate of $1.36 per share. Recognized for its strong performance, WesBanco operates 194 financial centers across six states and manages approximately $4.8 billion in assets. The bank emphasizes a customer-centric approach and has been ranked as one of America's Best Banks by Forbes.
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?