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) has opened a new loan production office in the Nashville area to enhance its residential mortgage lending services. This initiative aims to foster long-term growth and strengthen local relationships. CEO Todd F. Clossin emphasized the company's dedication to community banking while adapting to new markets. WesBanco recently earned recognition from Forbes as one of America's Best Banks and Best Midsize Employers, reflecting its strong performance and commitment to employee success. Rick Trew has been appointed as the Nashville office's VP of Residential Lending.
WesBanco, Inc. (Nasdaq:WSBC) announced a new stock repurchase program authorizing the purchase of up to 3.2 million shares on the open market. This authorization complements the existing program with 0.2 million shares remaining, totaling approximately 5.4% of shares outstanding as of December 31, 2021. The program's execution will depend on market conditions and may involve various purchasing methods. The repurchase plan does not have an expiration date and may be funded through existing cash balances and available liquidity.
WesBanco, Inc. (Nasdaq:WSBC) has announced a 3.0% increase in its quarterly cash dividend to $0.34 per common share, up from $0.33. The new dividend will be paid on April 1, 2022 to shareholders of record on March 11, 2022. This marks the fifteenth dividend increase since 2010, totaling a 143% increase in that period. The annualized cash dividend rate now stands at $1.36 per share, reflecting a yield of approximately 3.8% based on a closing stock price of $35.52.
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WesBanco, Inc. (Nasdaq: WSBC) has been ranked the #10 Best Bank in America by Forbes for 2021, marking its twelfth appearance on the list since 2010 and its third consecutive year in the top 12. This ranking evaluates the 100 largest publicly traded banks based on metrics such as growth, credit quality, and profitability. WesBanco emphasizes its commitment to community relationships and customer service, which have been pivotal during the pandemic. With over $5.6 billion in assets under management, the bank continues to expand its services across six states.
WesBanco, Inc. (Nasdaq: WSBC) announced that President and CEO Todd F. Clossin and CFO Daniel K. Weiss, Jr. will participate in the KBW Winter Financial Services Symposium on February 17-18, 2022, in Boca Raton, FL. The conference will not feature formal presentations or webcasts. Founded in 1870, WesBanco is a diversified financial services company with approximately $5.6 billion in assets under management as of December 31, 2021. The bank operates 205 centers across six states, offering a comprehensive range of banking and wealth management services.
WesBanco (WSBC) reported a successful end to 2021, with net income of $51.6 million for Q4, up from $50.2 million in Q4 2020, translating to diluted EPS of $0.82. For the full year, net income surged to $232.1 million ($3.53 EPS), compared to $119.4 million ($1.77 EPS) in 2020. Trust assets hit a record $5.6 billion, and deposits grew 13.5% year-over-year. Despite lower net interest income and non-interest income declines, the bank maintained strong capital ratios, and repurchased 1.56 million shares in Q4, highlighting robust shareholder returns.
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 November 15, 2021 to February 15, 2022, payable on February 15, 2022 to shareholders of record as of February 1, 2022.
WesBanco, a diversified financial services company, operates across six states with a strong market presence.
WesBanco, Inc. (Nasdaq:WSBC) will host a conference call on January 26, 2022, at 10:00 a.m. ET to discuss its fourth-quarter 2021 financial results, which will be released after market close on January 25, 2022. CEO Todd F. Clossin and CFO Daniel K. Weiss, Jr. will lead the discussion. Interested participants can join via the company's website or by calling specific numbers for various regions. A replay will be available starting January 26 at 12:00 p.m. ET until February 9. WesBanco operates in six states, focusing on community banking with a strong asset management presence.
WesBanco, Inc. (Nasdaq:WSBC) announced a quarterly cash dividend of $0.33 per share, payable on January 3, 2022, to shareholders of record as of December 10, 2021. This dividend reflects an annualized rate of $1.32 per common share. The declaration signifies WesBanco's ongoing commitment to returning value to its shareholders.