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UPDATE: Keefe, Bruyette & Woods Upgrades WesBanco Following Management Meeting

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In a report published Friday, Keefe, Bruyette & Woods analyst Catherine Mealor upgraded the rating on WesBanco (NASDAQ: WSBC) from Market Perform to Outperform, and raised the price target from $33.00 to $34.00.

In the report, Keefe, Bruyette & Woods noted, “WSBC shares have underperformed its peers year to date (down 12% versus the KRX down 3%) and continue to trade at a discount to peers (at 12.3x 2015 EPS). We believe WSBC shares should trade more in-line with peers as returns are now above peer levels and we believe there are a number of catalysts to profitability in 2014 including growth momentum around the Marcellus Shale region, further M&A and team lift out opportunities and we are excited about the expertise and energy the new CEO Todd Clossin will bring to the bank. Increasing our PT to $34.”

WesBanco closed on Thursday at $28.75.

Latest Ratings for WSBC

DateFirmActionFromTo
Jun 2018MaintainsNeutralNeutral
Oct 2017DowngradesBuyHold
Jun 2017UpgradesNeutralBuy

View More Analyst Ratings for WSBC
View the Latest Analyst Ratings

Posted-In: Bruyette & Woods Catherine Mealor KeefeAnalyst Color Upgrades Analyst Ratings

 

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UPDATE: Keefe, Bruyette & Woods Upgrades Principal Financial on Increased Confidence