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Fly News Breaks for February 12, 2019
ICBK
Feb 12, 2019 | 08:50 EDT
DA Davidson analyst Kevin Reevey lowered his price target on County Bancorp to $23 after its Q4 earnings fell 18% from last quarter on higher credit costs and non-interest expenses. The analyst also cites declining peers multiples in his revised price target in spite of the bank trading at a 1% discount relative to peer average multiple. Longer term, Reevey keeps his Buy rating on County Bancorp and points to the increase in its Q4 tangible common equity ratio, rising book value, and net interest margin expansion.
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