WesBanco, Inc. has issued a new 7.375% Fixed‑Rate Reset Non‑Cumulative Perpetual Preferred Stock, Series B, trading under the ticker WSBCO. The preferred shares were recently issued and are now trading slightly above par, reflecting strong demand from investors seeking high‑yield, long‑term fixed income. The issuance provides the bank with additional capital while maintaining a strong common equity cushion.
The Series B preferred stock carries a 35‑year track record of uninterrupted common dividends, offering investors a reliable income stream. Compared to other regional bank preferreds, WSBCO delivers lower credit quality and higher yield, making it an attractive option for yield‑seeking investors. The fixed‑rate reset feature ensures that the dividend rate will adjust with market rates, protecting investors against interest rate volatility.
From a capital structure perspective, the preferred issuance expands WesBanco’s capital base without diluting common shareholders immediately, while providing a flexible financing tool that can be converted into common equity if needed. The high yield and strong dividend history enhance the bank’s appeal to income‑focused investors, potentially supporting the stock’s valuation. The transaction underscores WesBanco’s ongoing strategy to strengthen its balance sheet and fund future growth initiatives.
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