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. (WSBC) is a multi-state financial services provider combining community banking values with modern solutions. This page serves as the definitive source for all official company announcements, press releases, and market-related developments.
Investors and stakeholders will find timely updates on earnings reports, merger activities, leadership changes, and service expansions. Our curated news collection ensures transparent access to WSBC's strategic initiatives in retail banking, trust services, and regional market developments.
The repository includes critical updates across three key areas: financial performance disclosures, operational milestones, and regulatory filings. Each entry is categorized for efficient navigation, enabling users to track the company's progress in enhancing customer solutions and shareholder value.
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WesBanco, Inc. (NASDAQ: WSBC) announced a 3.1% increase in its quarterly cash dividend, raising it to $0.33 per common share from $0.32. This dividend will be payable on April 1, 2021, to shareholders of record on March 12. This marks the fourteenth increase since 2010, with a cumulative rise of 136% over that period. The new annualized cash dividend rate will be $1.32, representing a yield of approximately 4.0% based on the previous closing stock price of $33.36.
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.
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