Information Provided By:
Fly News Breaks for June 26, 2018
SNV, SIVB, IBKC, UCBI, ABCB
Jun 26, 2018 | 07:24 EDT
As reported earlier, SunTrust analyst Jennifer Demba downgraded Ameris Bancorp (ABCB) to Hold from Buy and kept her $60 price target, saying she now reserves a bullish rating for banks with near-term catalysts such as outsized asset sensitivity and restructuring that offer upside earnings potential. The analyst cites greater loan/deposit competition, bottoming non-performing loans, and accelerating de novo formation for a more cautious view toward the sector. Demba adds that Ameris Bancorp stock trades "close to fairly valued" with its price to tangible book value above its peers. As part of the broader research note, Demba also downgraded United Community Banks (UCBI) to Hold from Buy and lowered her price target to $36 from $37. She prefers the "restructuring story" IBERIABANK (IBKC) and the asset-sensitive SVB Financial (SIVB) and Synovus Financial (SNV).
News For ABCB;UCBI;IBKC;SIVB;SNV From the Last 2 Days
There are no results for your query ABCB;UCBI;IBKC;SIVB;SNV