BUZZ-WesBanco rises after KBW upgrades to 'outperform'

Shares of regional lender WesBanco WSBC.O rise as much as 3%; last up 2.5% at $36.29

KBW upgrades WSBC to "outperform" from "market perform"; raises PT to $44 from $40, a 24.2% upside to stock's last close

Brokerage says it is encouraged by WSBC's improved net interest margin outlook and the potential earlier close for the bank's $959 million all-stock deal to buy smaller rival Premier Financial PFC.O

KBW moves up estimated closing date of PFC deal to February 28 from April 1, given WSBC is now only waiting on the Federal Reserve's approval

Meanwhile, KBW expects rate cuts and asset repricing opportunities to improve WSBC's NIM — a key measure of banking profitability

Further opportunities within PFC's bond book and additional cost savings could provide additional support to WSBC's earnings — KBW

Four of seven brokerages rate the stock "buy" or higher and three "hold"; their median PT is $41, according to data compiled by LSEG

WSBC stock rose 3.7% in 2024