Raymond James analyst Daniel Tamayo upgraded WesBanco (WSBC) to Strong Buy from Outperform with a price target of $44, up from $35. The tone of investor meetings with CEO Jeff Jackson, CFO Dan Weiss, and Director of IR John Iannone were bullish, with questions focusing on its ability to continue to generate above-peer organic loan and deposit growth, upside drivers of its pro-forma net interest margin post-Premier closing, and its ability to drive incremental fee income while generating additional efficiencies, the analyst tells investors in a research note. The firm is incrementally bullish on the bank’s ability to continue to grow at above-peer rates while generating mid-to-upper-double-digit ROTCE and maintaining strong credit quality.
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Read More on WSBC:
- WesBanco upgraded to Strong Buy from Outperform at Raymond James
- WesBanco raises quarterly dividend to 37c from 36c per share
- WesBanco Faces Market Uncertainty Post-Merger with Premier Financial
- WesBanco price target raised to $34 from $33 at Stephens
- WesBanco reports Q3 adjusted EPS 56c, consensus 51c
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