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. operates as a diversified, multi-state bank holding company through WesBanco Bank, providing retail and commercial banking, mortgage banking, trust, brokerage, wealth management and insurance services. News about WSBC commonly centers on quarterly earnings, net interest margin, loan and deposit trends, credit costs, commercial real estate payoffs, and the performance of its Community Banking and Trust and Investment Services businesses.
Company updates also cover market expansion, including commercial banking growth in South Florida; common and Series B preferred stock dividends; executive and risk-management leadership; and recognition tied to regional banking, community reinvestment and customer service. WesBanco's completed Premier Financial acquisition is a recurring context for merger-related expenses, acquired loans and pro forma financial comparisons.
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.
WesBanco, Inc. (WSBC) reported a net income of $40.2 million for Q2 2022, translating to earnings per share (EPS) of $0.67, down from $68.1 million and $1.01 per share in Q2 2021. This decline reflects a lack of provision releases seen in the previous year. Total loans reached $10.2 billion, growing 5.4% sequentially, while deposits stood at $13.6 billion, marking a 5.3% year-over-year increase. Non-interest income fell by 25.3% to $27 million, largely due to lower mortgage banking income. WesBanco repurchased 1.1 million shares, emphasizing capital return to shareholders.
WesBanco, Inc. (Nasdaq:WSBC) has announced a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP). The dividend covers the period from May 15, 2022 to August 15, 2022, payable on August 15, 2022, to shareholders of record as of August 1, 2022. This reflects the company's ongoing commitment to returning value to shareholders while maintaining its diversified operations across six states.
WesBanco, Inc. (Nasdaq: WSBC) has been recognized for the fourth consecutive year in Forbes' Best-In-State Banks List, earning the title of #1 bank in Ohio and #2 in Kentucky. This recognition is based on customer satisfaction across various metrics, including trust and service quality. The bank's CEO, Todd F. Clossin, highlighted the achievement as a testament to their employee dedication and commitment to customer-centric service. WesBanco offers a variety of financial services and aims for sustainable growth through investments in technology and market expansion.