WesBanco (WSBC, Financial) has reported a notable increase in its net interest margin to 3.35%, marking a rise of 32 basis points from the previous quarter. This improvement was significantly aided by a 25 basis point contribution from interest mark accretion and securities restructuring. The bank has demonstrated robust operational performance with substantial organic growth in both loans and deposits, while improving its balance sheet by using deposits to fund loan growth and cutting down on costly borrowings.
The first quarter was pivotal for WesBanco as it marked the successful acquisition of Premier Financial Corp. This strategic merger is expected to enhance WesBanco's market presence and expedite its long-term growth objectives. The company is focused on a seamless integration process to harness the full potential of this merger, benefiting all stakeholders involved. WesBanco welcomes Premier's team and community partnerships, as they work towards strengthening their combined organization.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Wesbanco Inc (WSBC, Financial) is $39.50 with a high estimate of $45.00 and a low estimate of $35.00. The average target implies an upside of 32.06% from the current price of $29.91. More detailed estimate data can be found on the Wesbanco Inc (WSBC) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Wesbanco Inc's (WSBC, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Wesbanco Inc (WSBC, Financial) in one year is $40.84, suggesting a upside of 36.54% from the current price of $29.91. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Wesbanco Inc (WSBC) Summary page.
