UPDATE: Stifel Nicolaus Upgrades WesBanco to Buy

Stifel Nicolaus is out with its report today on WesBanco

, upgrading WSBC to Buy. In its report, Stifel Nicolaus writes, "The company has done an admirable job, in our opinion, of driving a smaller but more profitable balance sheet over the course of the cycle that combined with continued emphasis on fee business and the expense base has resulted in a vastly widened earnings output. We believe that although the macro outlook will continue to be challenging, the company's current profile positions it well to succeed. Finally, WSBC shares offer an attractive opportunity for yield investors." Shares of WSBC closed Friday at $16.93.