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EBSB

Meridian Bancorp

$19.89

0.16 (0.81%)

07:53
11/26/19
11/26
07:53
11/26/19
07:53

Raymond James starts Meridian Bancorp at Outperform with $22 price target

Raymond James analyst William Wallace initiated coverage of Meridian Bancorp, the holding company for East Boston Savings Bank, with an Outperform rating and $22 price target. He views the bank as being well-positioned to continue to grow organically in its legacy Boston market and sees a nearer-term margin tailwind given the current falling rate environment, Wallace tells investors. While he said a potential sale is not a driver of his Outperform rating, Wallace believes the company has meaningful franchise value and scarcity value as one of the largest publicly-traded Boston-based banks, he added.

EBSB Meridian Bancorp
$19.89

0.16 (0.81%)

07/02/19
PIPR
07/02/19
UPGRADE
Target $20
PIPR
Overweight
Meridian Bancorp upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Matthew Breese upgraded Meridian Bancorp to Overweight from Neutral and raised his price target for the shares to $20 from $18.50. With the likelihood of a Fed cut now a high probability event, investors will continue to look for banks that benefit, especially those outside of metro New York City, Breese tells investors in a research note. The analyst believes Meridian makes sense as a "liability-sensitive play."
11/19/19
JANY
11/19/19
NO CHANGE
JANY
Janney notes bank exposure to commercial real estate at record high
Janney Montgomery Scott analyst Brian Martin said there is some concern about rising risk in the banking sector with the economic cycle nearing an end and some banks beginning to relax underwriting standards, pointing out that institutions have been rebuilding commercial real estate concentration levels and CRE exposure is now at a record high. Large banks generally have lower CRE levels and he believes CRE risk could be greater at smaller banks, Martin tells investors. 26% of banks with assets of $1B to $10B have a CRE concentration greater than the 300% regulatory guideline as of Q3, said the analyst, citing FDIC data. Among banks with $5B to $10B in assets, FDIC data shows Dime Community (DCOM), Meridian Bancorp (EBSB), Flushing Financial (FFIC), First Foundation (FFWM) and Luther Burbank (LBC) as among parent companies whose banks have CRE concentration of over 500%, the analyst noted.
11/26/19
RAJA
11/26/19
INITIATION
Target $22
RAJA
Outperform
Meridian Bancorp initiated with an Outperform at Raymond James
Raymond James initiated coverage of Meridian Bancorp with an Outperform rating and $22 price target.

TODAY'S FREE FLY STORIES

RCKT

Rocket Pharmaceuticals

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2.61 (13.21%)

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ARGX

Argenx

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-2.56 (-1.71%)

, JNJ

Johnson & Johnson

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0.79 (0.57%)

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BLUE

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BGNE

BeiGene

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LLY

Eli Lilly

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BMY

Bristol-Myers

$59.94

0.435 (0.73%)

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QURE

uniQure

$66.06

1.5 (2.32%)

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FTSV

Forty Seven

$14.40

0.23 (1.62%)

15:56
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Conference/Events
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  • 09

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AQST

Aquestive Therapeutics

$8.02

-0.34 (-4.07%)

15:50
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APRE

Aprea Therapeutics

$26.20

1.995 (8.24%)

15:23
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Aprea Therapeutics to hold a clinical update meeting »

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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

15:18
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  • 08

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IFF

International Flavors

$142.03

0.21 (0.15%)

, DD

DuPont

$63.60

1.6 (2.58%)

13:47
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Periodicals
International Flavors in talks to buy DuPont nutrition unit, Bloomberg reports »

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IFF

International Flavors

$142.03

0.21 (0.15%)

DD

DuPont

$63.60

1.6 (2.58%)

KRYAY

Kerry Group

$0.00

(0.00%)

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CHWRF

China Tower

$0.00

(0.00%)

13:40
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PRNB

Principia Biopharma

$37.30

0.86 (2.36%)

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DY

Dycom

$50.93

0.495 (0.98%)

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Syndicate
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IMV

IMV Inc.

$2.92

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KURA

Kura Oncology

$15.67

0.48 (3.16%)

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  • 08

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PTLA

Portola Pharmaceuticals

$29.22

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FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

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STOK

Stoke Therapeutics

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AUTL

Autolus Therapeutics

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AGIO

Agios Pharmaceuticals

$40.93

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ZIOP

Ziopharm

$5.16

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TGTX

TG Therapeutics

$7.11

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  • 09

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