RBC Capital analyst Jon Arfstrom raised the firm’s price target on WesBanco (WSBC) to $35 from $32 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. Quarterly trends were solid with strong loan growth and margin expansion driving revenues, and while its loan loss provision was higher, the bank’s core asset quality trends remain stable, the analyst tells investors in a research note. The acquisition of Premier Financial (PFC) will expand WesBanco footprint into Northern Ohio while building economies of scale and offering compelling earnings accretion opportunities, the firm added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WSBC:
- WesBanco Announces Merger and Private Placement Deal
- Premier Financial to merge into WesBanco in stock-for-stock transaction
- WesBanco signs merger agreement with Premier Financial
- WesBanco, Inc. Announces Transformative Merger with Premier Financial Corp.
- WesBanco Announces Second Quarter 2024 Financial Results
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue