What Makes WesBanco (WSBC) a New Buy Stock

Core Viewpoint - WesBanco (WSBC) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in a company's earnings picture, which is crucial for near-term stock price movements [2][4]. - An increase in earnings estimates typically leads to higher fair value for a stock, prompting institutional investors to buy or sell, thus affecting stock prices [4]. WesBanco's Earnings Outlook - The Zacks Consensus Estimate for WesBanco indicates expected earnings of $2.12 per share for the fiscal year ending December 2024, reflecting a year-over-year decline of 17.2% [8]. - Despite the decline, analysts have raised their estimates for WesBanco, with a 0.8% increase in the Zacks Consensus Estimate over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - WesBanco's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].