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SNV

Synovus

$34.46

0.37 (1.09%)

, TCBI

Texas Capital

$53.82

0.33 (0.62%)

07:17
01/10/19
01/10
07:17
01/10/19
07:17

Barclays upgrades Mid-Cap Banks industry to Positive from Neutral

Barclays analyst Matthew Keating upgraded his view on the U.S. Mid-Cap Banks industry to Positive from Neutral. There seems to be a lot less enthusiasm for the banks this year, Keating tells investors in a research note. The focus this year is on rising trade tensions, slowing global growth, and chance of a recession, says the analyst. However, he believes the slide in bank stock sentiment creates opportunities for investors "willing to withstand some volatility in the near term." Along with the sector, Keating upgraded Synovus Financial (SNV) and Texas Capital (TCBI) to Overweight from Equal Weight and Bank OZK (OZK) and People's United Financial (PBCT) to Equal Weight from Underweight. Based on his relative ratings system, he downgraded Prosperity Bancshares (PB) to Equal Weight from Overweight and New York Community Bancorp (NYCB) to Underweight from Equal Weight.

SNV

Synovus

$34.46

0.37 (1.09%)

TCBI

Texas Capital

$53.82

0.33 (0.62%)

OZK

Bank OZK

$25.91

0.53 (2.09%)

PBCT

People's United

$15.08

-0.06 (-0.40%)

PB

Prosperity Bancshares

$67.13

0.26 (0.39%)

NYCB

New York Community Bancorp

$10.10

0.065 (0.65%)

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    Feb

SNV Synovus
$34.46

0.37 (1.09%)

12/20/18
BARD
12/20/18
UPGRADE
Target $44
BARD
Outperform
Synovus assumed at Outperform from Neutral at Baird
Baird analyst Garrett Holland assumed coverage of Synovus (SNV), upgrading the stock to Outperform with a $44 price target. In a research note to investors, Holland says core trends should remain solid with better relative loan growth, rising capital return and further efficiency improvement. He also thinks the FCB Financial (FCB) transaction should be favorable, despite investor skepticism and negative sentiment.
12/20/18
12/20/18
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Humana (HUM) upgraded to Overweight from Neutral at JPMorgan with analyst Gary Taylor saying the upgrade reflects the "significant" recent pullback in the shares, Humana's accelerating market share gains, its "attractive" Medicare Advantage exposure, and "conservative" balance sheet. 2. Ericsson (ERIC) upgraded to Market Perform from Underperform at Raymond James. 3. Patterson-UTI (PTEN) and Halliburton (HAL) were upgraded to Buy from Hold at Societe Generale. 4. PPG (PPG) upgraded to Outperform from Sector Perform at RBC Capital with analyst Arun Viswanathan citing the potential tailwind coming from more favorable pricing in raw materials like oil and titanium dioxide. 5. Synovus (SNV) upgraded to Outperform from Neutral at Baird with analyst Garrett Holland saying core trends should remain solid with better relative loan growth, rising capital return and further efficiency improvement. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/19
RHCO
01/04/19
NO CHANGE
Target $38
RHCO
Buy
Synovus price target lowered to $38 from $47 at SunTrust
SunTrust analyst Jennifer Demba lowered her price target on Synovus to $38 to reflect the January 2nd closing date of its FCB Financial acquisition as well as the reduced industry valuation. The analyst also keeps her Buy rating on Synovus and expects the company's "stable core deposit base" to support its net interest margins. Demba adds that Synovus shares are attractively priced at 9-times her expected forward earnings.
01/10/19
LEHM
01/10/19
UPGRADE
Target $45
LEHM
Overweight
Synovus upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Matthew Keating upgraded Synovus Financial to Overweight while lowering his price target for the shares to $45 from $47.
TCBI Texas Capital
$53.82

0.33 (0.62%)

12/06/18
WEDB
12/06/18
NO CHANGE
Target $84
WEDB
Outperform
Texas Capital price target lowered to $84 from $93 at Wedbush
Wedbush analyst Peter Winter lowered his price target for Texas Capital to $84 from $93 to reflect lower average loan growth and a lower margin. The analyst recognizes that some of the tailwinds that the company has enjoyed are turning into headwinds as loan growth is expected to slow. He reiterates an Outperform rating on the shares.
01/10/19
LEHM
01/10/19
UPGRADE
Target $70
LEHM
Overweight
Texas Capital upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Matthew Keating upgraded Texas Capital Bancshares to Overweight while lowering his price target for the shares to $70 from $92.
12/14/18
JPMS
12/14/18
INITIATION
Target $62
JPMS
Neutral
Texas Capital initiated with a Neutral at JPMorgan
JPMorgan analyst Steven Alexopoulos started Texas Capital Bancshares with a Neutral rating and $62 price target. The analyst sees deposit rates resetting higher, combined with uncertainty over the landing point for non-interest bearing deposits, keeping "a lid" on the shares.
01/08/19
JEFF
01/08/19
DOWNGRADE
Target $50
JEFF
Hold
Texas Capital downgraded to Hold from Buy at Jefferies
Jefferies analyst Casey Haire downgraded Texas Capital to Hold from Buy and lowered his price target on the stock to $50 from $89 citing his concern about the fact that mortgages make up 25% of total loans. Given cyclical headwinds in the mortgage industry, balances are likely to decline, and the "enormous" pricing pressure due to competition is unlikely to abate until later this year, Haire tells investors.
OZK Bank OZK
$25.91

0.53 (2.09%)

01/10/19
LEHM
01/10/19
UPGRADE
Target $28
LEHM
Equal Weight
Bank OZK upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Matthew Keating upgraded Bank OZK to Equal Weight and raised his price target for the shares to $28 from $27.
10/24/18
UBSW
10/24/18
UPGRADE
UBSW
Neutral
Bank OZK upgraded to Neutral from Sell at UBS
10/24/18
UBSW
10/24/18
UPGRADE
Target $27
UBSW
Neutral
UBS upgrades Bank OZK to Neutral on valuation after selloff
UBS analyst Brock Vandervliet upgraded Bank OZK to Neutral from Sell while lowering his price target for the shares to $27 from $36. The current valuation prices in a "materially" lower earnings growth rate, return profile and more volatile credit outlook, Vandervliet tells investors in a research note. However, given Bank OZK's "outsized credit losses," the analyst does not expect a "rapid recovery" in the shares. He forecasts both loan growth and net interest margin to continue falling in Q4 and going forward.
12/04/18
PIPR
12/04/18
DOWNGRADE
Target $31
PIPR
Neutral
Bank OZK downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Matthew Breese downgraded Bank OZK to Neutral and cut his price target for the shares to $31 from $52. With an outlook for margin pressure, slower loan growth, and significant exposure to New York City/Miami multi-family/luxury condos asset classes, which currently face challenges, OZK is unlikely to reclaim its premium multiple in the near-term, Breese tells investors in a research note. Further, the analyst thinks credit concerns "will be top of mind" for the next 6-12 months and could place additional pressure on shares.
PBCT People's United
$15.08

-0.06 (-0.40%)

12/20/18
FIGP
12/20/18
INITIATION
FIGP
Outperform
People's United initiated with an Outperform at Fig Partners
Fig Partners analyst David Bishop initiated People's United with an Outperform.
01/10/19
LEHM
01/10/19
UPGRADE
Target $18
LEHM
Equal Weight
People's United upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Matthew Keating upgraded People's United Financial to Equal Weight while lowering his price target for the shares to $18 from $20.
06/19/18
KBWI
06/19/18
UPGRADE
KBWI
Outperform
People's United upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Collyn Gilbert upgraded People's United Financial (PBCT) to Outperform with an unchanged price target of $21.50. The recent selloff in the shares implies a 20% total return, Gilbert tells investors in a research note. The analyst thinks the outlook for People's fundamental improvement relative to its current valuation "finally warrants more active investor attention." Gilbert views the First Connecticut Bancorp (FBNK) acquisition favorably.
06/27/18
KBWI
06/27/18
UPGRADE
Target $37
KBWI
Outperform
First Connecticut upgraded to Outperform with $37 target at Keefe Bruyette
Keefe Bruyette analyst Damon DelMonte upgraded First Connecticut Bancorp (FBNK) to Outperform from Market Perform and raised his price target for the shares to $37 from $29. The analyst aligned his target and valuation with People's United Financial (PBCT) as a result of the pending merger between the two banks.
PB Prosperity Bancshares
$67.13

0.26 (0.39%)

10/25/18
RHCO
10/25/18
NO CHANGE
Target $68
RHCO
Buy
Prosperity Bancshares price target lowered to $68 from $77 at SunTrust
SunTrust analyst Jennifer Demba lowered her price target on Prosperity Bancshares to $68 to reflect lower industry valuations and also lowered her FY19 EPS view to $4.60 from $4.65 to reflect her expectations of "lower spread income". The analyst keeps her Buy rating on Prosperity Bancshares however, saying the bank is typically the most conservative underwriter in her coverage universe, which is the preferred trait in the later stage of the economic cycle.
10/25/18
BARD
10/25/18
UPGRADE
Target $73
BARD
Outperform
Prosperity Bancshares upgraded to Outperform at Baird
As reported previously, Baird analyst Bryce Rowe upgraded Prosperity Bancshares to Outperform from Neutral. The analyst said the risk/reward setup is favorable based on its valuation and attractive credit risk profile and history of good credit quality. He also cited its robust capital position and valuable core franchise in Texas and Oklahoma. Rowe lowered his price target to $73 from $75 on Prosperity Bancshares.
01/02/19
HOVD
01/02/19
UPGRADE
HOVD
Outperform
Prosperity Bancshares upgraded to Outperform from Market Perform at Hovde Group
01/10/19
LEHM
01/10/19
DOWNGRADE
Target $71
LEHM
Equal Weight
Prosperity Bancshares downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Matthew Keating downgraded Prosperity Bancshares to Equal Weight with a $71 price target.
NYCB New York Community Bancorp
$10.10

0.065 (0.65%)

01/08/19
UBSW
01/08/19
UPGRADE
UBSW
Neutral
New York Community Bancorp upgraded to Neutral from Sell at UBS
01/10/19
LEHM
01/10/19
DOWNGRADE
Target $10
LEHM
Equal Weight
New York Community downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Matthew Keating downgraded New York Community Bancorp to Equal Weight with a $10 price target.
08/28/18
FBCO
08/28/18
INITIATION
Target $12
FBCO
Neutral
New York Community Bancorp reinstated with a Neutral at Credit Suisse
Credit Suisse analyst Moshe Orenbuch reinstated coverage of New York Community Bancorp with a Neutral rating and $12 price target. The analyst believes the company will continue to face NIM pressure for the next 1-2 years owing to the fixed-rate nature of most of its loans and continued competition in the deposit market. This should continue to pressure the company's ROE, a trend he has seen for several years.
10/26/18
PIPR
10/26/18
UPGRADE
Target $9
PIPR
Neutral
New York Community upgraded to Neutral from Underweight at Piper Jaffray
Piper Jaffray analyst Matthew Breese upgraded New York Community Bancorp to Neutral while lowering his price target for the shares to $9 from $10. Following the company's Q3 results, the analyst still has fundamental concerns with the outlook of the net interest margin given the bank's funding profile, in addition to the bank's capital position and dividend payout ratio. However, with the stock down 30% year-to-date and a "'safe-for-now dividend," the analyst is moving to the sidelines.

TODAY'S FREE FLY STORIES

BMY

Bristol-Myers

$49.50

0.37 (0.75%)

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FOSL

Fossil

$17.50

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$1,080.85

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GOOGL

Alphabet Class A

$1,090.00

1.17 (0.11%)

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RTN

Raytheon

$161.77

2.4 (1.51%)

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GOOG

Alphabet

$1,079.92

-0.3 (-0.03%)

, FOSL

Fossil

$17.50

0.09 (0.52%)

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$1,079.92

-0.3 (-0.03%)

FOSL

Fossil

$17.50

0.09 (0.52%)

GOOGL

Alphabet Class A

$1,089.70

0.87 (0.08%)

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    Mar

JPM

JPMorgan

$102.54

0.06 (0.06%)

12:30
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PHG

Philips

$35.40

(0.00%)

12:29
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LMFA

LM Funding

$2.19

0.765 (53.87%)

12:27
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NWSA

News Corp.

$12.42

0.03 (0.24%)

12:25
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Upgrade
News Corp. rating change  »

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FDC

First Data

$22.17

0.9 (4.23%)

12:25
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Options
First Data call volume above normal and directionally bullish »

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  • 03

    Mar

BLK

BlackRock

$410.20

-2.65 (-0.64%)

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BlackRock CEO calls on business leaders to tackle social issues, FT says »

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  • 23

    Jan

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  • 11

    Feb

MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

, AAPL

Apple

$154.13

-0.75 (-0.48%)

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MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

AAPL

Apple

$154.13

-0.75 (-0.48%)

JNJ

Johnson & Johnson

$128.65

0.65 (0.51%)

SHLD

Sears

$0.00

(0.00%)

SBNY

Signature Bank

$120.40

7.98 (7.10%)

MTB

M&T Bank

$161.77

7.32 (4.74%)

SIG

Signet Jewelers

$25.63

-7.745 (-23.21%)

WDC

Western Digital

$35.97

-1.83 (-4.84%)

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  • 07

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LPCN

Lipocine

$2.24

0.65 (40.88%)

12:17
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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Technical Analysis
NASDAQ market internals summary »

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LMB

Limbach Holding

$5.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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LPCN

Lipocine

$2.27

0.68 (42.77%)

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CVE

Cenovus Energy

$7.79

-0.19 (-2.38%)

12:10
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Options
Second day of call buying in Cenovus Energy continues as shares slump »

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SQ

Square

$68.79

2.9 (4.40%)

12:04
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ALBO

Albireo Pharma

$24.54

0.08 (0.33%)

12:03
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GPOR

Gulfport Energy

$8.67

-0.23 (-2.58%)

12:02
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UNFI

United Natural Foods

$13.09

-2.32 (-15.06%)

12:00
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01/17
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Hot Stocks
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ESTE

Earthstone Energy

$5.28

-1.49 (-22.01%)

12:00
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Hot Stocks
Earthstone Energy falls -21.9% »

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SIG

Signet Jewelers

$25.49

-7.885 (-23.63%)

12:00
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Hot Stocks
Signet Jewelers falls -23.6% »

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SKX

Skechers

$27.64

2.27 (8.95%)

12:00
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01/17
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Hot Stocks
Skechers rises 9.2% »

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