WesBanco rises as Raymond James upgrades to 'strong buy'

Wesbanco

06/12/2024 14:49

** Shares of regional lender WesBanco  WSBC.O  rise 3.3% to
$36.32 in early trading
    ** Raymond James upgrades to "strong buy" from "outperform";
raises PT to $44 from $35, a 25.2% upside to stock's last close
    ** Brokerage says incrementally bullish on the bank's
ability to continue to grow at above-peer rates while
maintaining strong credit quality     
    ** With 10% loan growth over the last year while many banks
saw slower growth, WSBC heading into a time of excitement for
growth improvement in the industry - Raymond James    
    ** Brokerage says an acquisition in Virginia and Tennessee
could make sense for WSBC as the bank looks to grow    
    ** Three of seven brokerages rate the stock "buy" or higher
and four "hold"; median PT $40 - LSEG data     
    ** As of last close, WSBC shares up 12% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))