WesBanco price target raised to $42 from $40 at Piper Sandler

Piper Sandler raised the firm’s price target on WesBanco (WSBC) to $42 from $40 and keeps an Overweight rating on the shares. The firm notes the company’s core EPS beat expectations with a negative provision offsetting weaker PPNR. Results profiled unexpected net interest margin contraction and declines in loans that offset capital exceeding 10.5% CET1 and elevated profitability at 1.3% ROA. Piper views the hit to shares on the print as overblown.