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 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.
WesBanco, Inc. (Nasdaq: WSBC) will host a conference call on April 28, 2021, at 10:00 a.m. ET to discuss its first quarter 2021 financial results. The results will be released after market close on April 27. Interested parties can access the call via the company's Investor Relations website or by dialing 888-347-6607. A replay will be available from 12:00 p.m. ET on April 28 until May 12. WesBanco operates in six states and offers a range of financial services, managing approximately $5.0 billion in assets.
WesBanco, Inc. (Nasdaq:WSBC) has announced its participation in two upcoming virtual investor conferences. The first is the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, where CEO Todd F. Clossin and CFO Robert H. Young will engage in a fireside chat at 7:30 a.m. ET, accessible via live webcast. The second event is the RBC Capital Markets Global Financial Institutions Conference on March 10, 2021, which will not feature a formal presentation or webcast. WesBanco focuses on customer-centric banking services across six states.
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.