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) announces a conference call on July 28, 2021, at 10:00 a.m. ET to discuss its second-quarter financial results. The results will be released after market close on July 27, 2021.
CEO Todd F. Clossin and CFO Robert H. Young will lead the discussion, accessible via a live webcast or by phone. The replay will begin at noon ET on July 28 and will be available until August 11, 2021. WesBanco, founded in 1870, is a diversified financial services company with significant market share across six states.
Summary not available.
WesBanco, Inc. (Nasdaq:WSBC) has declared a quarterly cash dividend of $0.33 per share, payable on July 1, 2021. Shareholders of record as of June 11, 2021 will receive this dividend, representing an annualized rate of $1.32 per share. The announcement reflects the company's commitment to delivering consistent returns to its shareholders amidst its diversified financial services across six states, emphasizing both community involvement and sustainable growth.
WesBanco (Nasdaq: WSBC) announced that Todd F. Clossin, President and CEO, and Robert H. Young, CFO, will participate in the D.A. Davidson 23rd Annual Financial Institutions Virtual Conference on May 5-6, 2021. The conference will not feature a formal presentation or webcast. Founded in 1870, WesBanco is a multi-state bank holding company with a commitment to community banking, offering a range of services including trust, wealth management, and commercial products. The bank oversees approximately $5.2 billion in assets under management as of March 31, 2021.
WesBanco, Inc. (WSBC) reported net income of $70.6 million for Q1 2021, a significant increase from $23.4 million in Q1 2020. Diluted earnings per share rose to $1.05 from $0.35. Excluding restructuring costs, adjusted net income reached $71.3 million or $1.06 per diluted share. Total loans increased by 3.4% year-over-year, supported by the SBA PPP. Deposits grew by 20.3% year-over-year, totaling $13.3 billion. The efficiency ratio was 56.71%, indicating effective cost management.
WesBanco has authorized a new stock repurchase plan for up to 1.7 million shares, adding to an existing program with the same amount remaining. This combined authorization represents about 5.0% of outstanding shares. The repurchase will be at WesBanco's discretion, allowing for flexibility based on market conditions. Funding for the buyback may come from cash balances and other liquidity sources. The program does not have an expiration date and is flexible in its execution methods.
WesBanco, Inc. (Nasdaq: WSBC) has declared 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 applies to the period from February 15, 2021 to May 15, 2021, and will be payable on May 17, 2021, to shareholders of record as of May 3, 2021. This demonstrates the company’s commitment to returning value to investors amidst its diversified financial services operations.
WesBanco, Inc. (Nasdaq: WSBC) announced its affiliate, WesBanco Bank, received the 2021 America Saves Designation of Savings Excellence for the sixth consecutive year. This award recognizes financial institutions for their success in promoting customer savings and establishing automatic savings plans. WesBanco's partnership with America Saves spans over 15 years, helping individuals save effectively. The recent initiative encouraged over 92,000 individuals to deposit $157,557,265 into savings accounts during America Saves Week. WesBanco remains committed to community banking and customer-focused financial services.
WesBanco, Inc. (Nasdaq: WSBC) has been named one of the World's Best Banks by Forbes for the third consecutive year, based on high customer satisfaction scores in areas such as 'customer services', 'financial advice', and 'digital services'. The recognition stems from a survey conducted by Statista, involving over 43,000 consumers across 28 countries. WesBanco emphasizes its commitment to delivering both large bank capabilities and a community bank feel, offering a range of personal and business services, with approximately $5.0 billion in assets under management as of December 31, 2020.
WesBanco, Inc. (Nasdaq: WSBC) announced that Abdul Muhammad, Senior VP and Regional Manager of Residential Lending, has been appointed to the Federal Reserve Bank of Cleveland's Equity and Inclusion Advisory Council. This council aims to enhance diversity and inclusion at the Cleveland Fed and the surrounding communities. Muhammad, as chair of WesBanco's own Diversity, Equity, and Inclusion Council, focuses on leadership development and community initiatives. The bank emphasizes the importance of these efforts for minority communities and overall corporate culture.