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Fly News Breaks for November 27, 2018
NCOM, CSFL
Nov 27, 2018 | 08:46 EDT
As previously reported, Sandler O'Neill analyst Stephen Scouten upgraded CenterState Bank (CSFL) to Buy from Hold citing the company's agreement to merge with National Commerce (NCOM) in an all-stock transaction. He said the deal "seems to check all the boxes" of cultures, complementary footprints, and attractive financial benefits, adding that the franchise is a solid bolt-on in the Atlanta MSA while adding depth in CenterState's core markets. Scouten raised his price target on CenterState shares to $29 from $27 after raising his 2020 estimates to account for the accretion related to the National Commerce deal.
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