WesBanco price target raised to $35 from $32 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on WesBanco (WSBC) to $35 from $32 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. Quarterly trends were solid with strong loan growth and margin expansion driving revenues, and while its loan loss provision was higher, the bank’s core asset quality trends remain stable, the analyst tells investors in a research note. The acquisition of Premier Financial (PFC) will expand WesBanco footprint into Northern Ohio while building economies of scale and offering compelling earnings accretion opportunities, the firm added.