WSBC - WesBanco: Topline Growth Likely To Only Partly Compensate For Higher Provisioning

• The loan portfolio is likely to finally bottom out this year thanks to the nationwide economic strength.
• The loan mix will enable WSBC to quickly benefit from a rising interest-rate environment. Further, there are opportunities to improve both the asset and liability mixes.
• After significant reserve releases last year, the net provision expense will likely trend higher and, consequently, drag earnings this year.
• The December 2022 target price suggests a modest upside from the current market price. Further, WSBC is offering a high dividend yield for a bank holding company.

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