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SMBK

SmartFinancial

$20.93

1.13 (5.71%)

, ENFC

Entegra Financial

$29.50

5.78 (24.37%)

16:15
04/24/19
04/24
16:15
04/24/19
16:15

SmartFinancial announces termination of merger agreement with Entegra

SmartFinancial (SMBK) announced that Entegra Financial (ENFC) has elected to terminate, effective April 23, the previously announced merger agreement among SmartFinancial, Entegra, and CT Merger Sub. Entegra elected to terminate the agreement in order to enter into a definitive merger agreement with a large North Carolina-based financial institution that made a competing offer to acquire Entegra, an offer that SmartFinancial chose not to match.

SMBK

SmartFinancial

$20.93

1.13 (5.71%)

ENFC

Entegra Financial

$29.50

5.78 (24.37%)

  • 02

    May

  • 05

    Jun

SMBK SmartFinancial
$20.93

1.13 (5.71%)

06/26/18
06/26/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Netflix (NFLX) initiated with an Outperform at Imperial Capital. 2. Eloxx Pharmaceuticals (ELOX) initiated with a Buy at SunTrust. 3. Spotify (SPOT) initiated with an Overweight at Barclays. 4. SmartFinancial (SMBK) initiated with an Equal Weight at Stephens. 5. 21st Century Fox (FOXA) initiated with a Buy at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/18/19
01/18/19
DOWNGRADE
Target $22

Hold
Sandler O'Neill downgrades Entegra Financial to Hold after SmartFinancial deal
As previously reported, Sandler O'Neill analyst Peter Ruiz downgraded Entegra Financial (ENFC) to Hold from Buy after the company's announcement Tuesday of a deal to merge with SmartFinancial (SMBK). He was "somewhat surprised" that the buyout price was a modest discount to Entegra last trade prior to announcement, as he thought the scarcity value of the franchise might have justified a more significant premium, Ruiz tells investors. However, he can see the long-term strategic benefits of the combination, which will create a sizeable Southeast community franchise, he added. He lowered his price target on Entegra shares to $22 from $27.
02/22/19
FIGP
02/22/19
INITIATION
Target $23
FIGP
Outperform
SmartFinancial initiated with an Outperform at Fig Partners
Fig Partners initiated SmartFinancial with an Outperform and $23 price target.
03/04/19
SDLR
03/04/19
INITIATION
Target $23
SDLR
Buy
SmartFinancial initiated with a Buy at Sandler ONeill
Sandler O'Neill initiated Smart Financial with a Buy and $23 price target.
ENFC Entegra Financial
$29.50

5.78 (24.37%)

01/16/19
COMP
01/16/19
DOWNGRADE
COMP
Neutral
Entegra Financial downgraded to Neutral from Buy at Compass Point
01/18/19
SDLR
01/18/19
DOWNGRADE
SDLR
Hold
Entegra Financial downgraded to Hold from Buy at Sandler O'Neill
02/25/19
FIGP
02/25/19
UPGRADE
FIGP
Outperform
Entegra Financial upgraded to Outperform from Market Perform at Fig Partners

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