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Recommendations
KBW recommends pair trade of overweight Comerica, underweight Zions » 16:36
10/06/22
10/06
16:36
10/06/22
16:36
CMA

Comerica

$74.05 /

-1.61 (-2.13%)

, ZION

Zions Bancorp

$52.38 /

-1.12 (-2.09%)

Keefe Bruyette analyst…

Keefe Bruyette analyst Christopher McGratty recommends a pair trading of overweight Comerica (CMA) and underweight Zions Bancorp (ZION). The analyst also downgraded the latter to Market Perform. The narrative around bank stocks is beginning to shift away from positive net interest income surprises toward emerging economic risks, McGratty tells investors in a research note. The analyst views Comerica and Zions as very similar stocks, but says that emerging capital and valuation differences creates a pair trade opportunity.

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ZION Zions Bancorp
$52.38 /

-1.12 (-2.09%)

CMA Comerica
$74.05 /

-1.61 (-2.13%)

CMA Comerica
$74.05 /

-1.61 (-2.13%)

10/06/22 Citi
Comerica price target lowered to $90 from $95 at Citi
09/28/22 Wedbush
Comerica assumed with an Outperform at Wedbush
09/12/22 Piper Sandler
Comerica price target raised to $94 from $90 at Piper Sandler
07/22/22 Keefe Bruyette
SVB Financial downgraded to Market Perform from Outperform at Keefe Bruyette
ZION Zions Bancorp
$52.38 /

-1.12 (-2.09%)

10/06/22 Keefe Bruyette
Keefe Bruyette downgrades Zions to Market Perform into Q3 results
10/06/22 Keefe Bruyette
Zions Bancorp downgraded to Market Perform from Outperform at Keefe Bruyette
09/28/22 Wedbush
Zions Bancorp assumed with a Neutral at Wedbush
09/14/22 Truist
Zions Bancorp price target raised to $66 from $60 at Truist
ZION Zions Bancorp
$52.38 /

-1.12 (-2.09%)

CMA Comerica
$74.05 /

-1.61 (-2.13%)

ZION Zions Bancorp
$52.38 /

-1.12 (-2.09%)

CMA Comerica
$74.05 /

-1.61 (-2.13%)

ZION Zions Bancorp
$52.38 /

-1.12 (-2.09%)

CMA Comerica
$74.05 /

-1.61 (-2.13%)

Recommendations
Comerica price target lowered to $90 from $95 at Citi » 06:12
10/06/22
10/06
06:12
10/06/22
06:12
CMA

Comerica

$75.67 /

-0.74 (-0.97%)

Citi analyst Keith…

Citi analyst Keith Horowitz lowered the firm's price target on Comerica to $90 from $95 and keeps a Buy rating on the shares. The analyst noticed an error in his Comerica model for swaps, and now estimates the bank is effectively interest rate neutral on incremental rate hikes over forward curve expectations, rather than asset sensitive. However, he sees a more stable net interest margin improving the stock's multiple going forward.

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CMA Comerica
$75.67 /

-0.74 (-0.97%)

CMA Comerica
$75.67 /

-0.74 (-0.97%)

09/28/22 Wedbush
Comerica assumed with an Outperform at Wedbush
09/12/22 Piper Sandler
Comerica price target raised to $94 from $90 at Piper Sandler
07/22/22 Keefe Bruyette
SVB Financial downgraded to Market Perform from Outperform at Keefe Bruyette
07/21/22 Wedbush
Comerica price target raised to $94 from $89 at Wedbush
CMA Comerica
$75.67 /

-0.74 (-0.97%)

CMA Comerica
$75.67 /

-0.74 (-0.97%)

CMA Comerica
$75.67 /

-0.74 (-0.97%)

Wednesday
Hot Stocks
BOK Financial names Jeff Reid as chief human resource officer » 11:00
10/05/22
10/05
11:00
10/05/22
11:00
BOKF

BOK Financial

$93.20 /

-0.55 (-0.59%)

BOK Financial announced…

BOK Financial announced that Jeff Reid has assumed the position of chief human resource officer, effective immediately. In this role, Reid will lead BOK Financial's human resources team in fulfilling the company's priority of "winning as a talent magnet" by achieving strategic goals including advancing culture, compensation and benefits, and leadership development programs; as well as diversity, equity and inclusion initiatives, the company said in a statement. Reid assumes the position previously held by Kelley Weil, who was recently named Consumer banking executive.

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BOKF BOK Financial
$93.20 /

-0.55 (-0.59%)

BOKF BOK Financial
$93.20 /

-0.55 (-0.59%)

09/28/22 Wedbush
BOK Financial assumed with a Neutral at Wedbush
09/14/22 Truist
BOK Financial price target raised to $95 from $91 at Truist
07/28/22 Wedbush
BOK Financial price target raised to $86 from $78 at Wedbush
07/28/22 Wells Fargo
BOK Financial price target raised to $100 from $85 at Wells Fargo
BOKF BOK Financial
$93.20 /

-0.55 (-0.59%)

Tuesday
Hot Stocks
Republic First Bancorp announces cooperation agreement with Driver Management » 09:11
10/04/22
10/04
09:11
10/04/22
09:11
FRBK

Republic First Bancorp

$2.86 /

+0.005 (+0.18%)

, TCBI

Texas Capital

$60.60 /

+1.57 (+2.66%)

Republic First Bancorp…

Republic First Bancorp (FRBK) announced it has entered into a multi-year cooperation agreement with Driver Management Company and its affiliates, which together own 1,680,197 shares of the Company's outstanding common stock. Under the Cooperation Agreement, the Company appointed Peter Bartholow to the Company's Board of Directors with a term expiring at the Company's 2022 Annual Meeting of Shareholders. The Company will also include Bartholow on its slate of candidates standing for election at the 2022 Annual Meeting. Bartholow is the former Chief Financial Officer and Chief Operations Officer and board member of Texas Capital Bancshares (TCBI). Additionally, Driver Management has agreed to withdraw its notice of intent to nominate director candidates for election at the 2022 Annual Meeting and cease all solicitations or proxies and other activities in connection with the 2022 Annual Meeting, subject to limited exceptions. With respect to each annual or special meeting of the Company's shareholders during the term of the Cooperation Agreement, Driver Management has also agreed to customary standstill provisions and voting commitments, a general release of claims with respect to the Company and its affiliates and to voluntarily dismiss with prejudice any and all claims asserted in any actions against the Company or its affiliates in their entirety.

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TCBI Texas Capital
$60.60 /

+1.57 (+2.66%)

FRBK Republic First Bancorp
$2.86 /

+0.005 (+0.18%)

FRBK Republic First Bancorp
$2.86 /

+0.005 (+0.18%)

TCBI Texas Capital
$60.60 /

+1.57 (+2.66%)

09/28/22 Wedbush
Texas Capital assumed with a Neutral at Wedbush
09/14/22 Truist
Texas Capital price target raised to $68 from $65 at Truist
09/13/22 Raymond James
Texas Capital price target raised to $73 from $70 at Raymond James
09/12/22 RBC Capital
Texas Capital price target raised to $62 from $59 at RBC Capital
TCBI Texas Capital
$60.60 /

+1.57 (+2.66%)

TCBI Texas Capital
$60.60 /

+1.57 (+2.66%)

Over a week ago
Initiation
Comerica assumed with an Outperform at Wedbush » 07:32
09/28/22
09/28
07:32
09/28/22
07:32
CMA

Comerica

$72.05 /

-0.99 (-1.36%)

Wedbush analyst David…

Wedbush analyst David Chiaverini assumed coverage of Comerica with an Outperform rating and $95 price target. The analyst cites the company's strong deposit franchise with the highest level of non-interest-bearing deposits of the regionals, its aggressive hedging strategy that should lock in above-average yields for 5 years as it takes advantage of its strong deposit base, and its history of strong credit quality performance, including during the financial crisis.

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CMA Comerica
$72.05 /

-0.99 (-1.36%)

CMA Comerica
$72.05 /

-0.99 (-1.36%)

09/12/22 Piper Sandler
Comerica price target raised to $94 from $90 at Piper Sandler
07/22/22 Keefe Bruyette
SVB Financial downgraded to Market Perform from Outperform at Keefe Bruyette
07/21/22 Wedbush
Comerica price target raised to $94 from $89 at Wedbush
07/12/22 Citi
Comerica price target lowered to $93 from $105 at Citi
CMA Comerica
$72.05 /

-0.99 (-1.36%)

CMA Comerica
$72.05 /

-0.99 (-1.36%)

CMA Comerica
$72.05 /

-0.99 (-1.36%)

Initiation
BOK Financial assumed with a Neutral at Wedbush » 07:30
09/28/22
09/28
07:30
09/28/22
07:30
BOKF

BOK Financial

$86.34 /

-1.68 (-1.91%)

Wedbush analyst David…

Wedbush analyst David Chiaverini assumed coverage of BOK Financial with a Neutral rating and $90 price target. He likes the high level of fee income as a percent of revenue, but has concerns about below-average growth in loans and deposits, the increasing risk of a recession, and the impact a recession could have on BOK's fundamentals, he tells investors.

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BOKF BOK Financial
$86.34 /

-1.68 (-1.91%)

BOKF BOK Financial
$86.34 /

-1.68 (-1.91%)

09/14/22 Truist
BOK Financial price target raised to $95 from $91 at Truist
07/28/22 Wedbush
BOK Financial price target raised to $86 from $78 at Wedbush
07/28/22 Wells Fargo
BOK Financial price target raised to $100 from $85 at Wells Fargo
BOKF BOK Financial
$86.34 /

-1.68 (-1.91%)

Initiation
Texas Capital assumed with a Neutral at Wedbush » 07:28
09/28/22
09/28
07:28
09/28/22
07:28
TCBI

Texas Capital

$59.07 /

-0.465 (-0.78%)

Wedbush analyst David…

Wedbush analyst David Chiaverini assmed coverage of Texas Capital with a Neutral rating and $60 price target. The analyst sees below-average growth in loans and deposits for the bank, and says execution risk relating to the significant changes occurring under new CEO Rob Holmes could keep expenses elevated during the transformation. He also fears a potential recession could be an additional headwind to growth.

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TCBI Texas Capital
$59.07 /

-0.465 (-0.78%)

TCBI Texas Capital
$59.07 /

-0.465 (-0.78%)

09/14/22 Truist
Texas Capital price target raised to $68 from $65 at Truist
09/13/22 Raymond James
Texas Capital price target raised to $73 from $70 at Raymond James
09/12/22 RBC Capital
Texas Capital price target raised to $62 from $59 at RBC Capital
09/08/22 BofA
Texas Capital downgraded to Underperform with $55 target at BofA
TCBI Texas Capital
$59.07 /

-0.465 (-0.78%)

TCBI Texas Capital
$59.07 /

-0.465 (-0.78%)

Initiation
Prosperity Bancshares assumed with a Neutral at Wedbush » 07:26
09/28/22
09/28
07:26
09/28/22
07:26
PB

Prosperity Bancshares

$66.72 /

-1.29 (-1.90%)

Wedbush analyst David…

Wedbush analyst David Chiaverini assumed coverage of Prosperity Bancshares with a Neutral rating and $70 price target. The analyst sees "below-average growth" in the bank's loans and deposits, and fears a potential recession could be an additional headwind to growth. Prosperity's prganic loan growth had been under pressure due to declines in mortgage warehouse and elevated paydowns, Chiaverini tells investors in a research note.

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PB Prosperity Bancshares
$66.72 /

-1.29 (-1.90%)

06/15/22 Truist
Prosperity Bancshares price target lowered to $77 from $78 at Truist
05/26/22 Wolfe Research
Prosperity Bancshares price target lowered to $63 from $69 at Wolfe Research
04/07/22 Wolfe Research
Prosperity downgraded to Underperform from Peer Perform at Wolfe Research
12/16/21 Raymond James
Prosperity Bancshares downgraded to Market Perform from Outperform at Raymond James
PB Prosperity Bancshares
$66.72 /

-1.29 (-1.90%)

Recommendations
Independent Bank price target lowered to $75 from $78 at Piper Sandler » 06:06
09/16/22
09/16
06:06
09/16/22
06:06
IBTX

Independent Bank

/

+

Piper Sandler analyst…

Piper Sandler analyst Brad Milsaps lowered the firm's price target on Independent Bank to $75 from $78 and keeps an Overweight rating on the shares after meeting with management.

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IBTX Independent Bank
/

+

IBTX Independent Bank
/

+

07/06/22 Truist
Independent Bank price target lowered to $76 from $85 at Truist
03/09/22 Janney Montgomery Scott
Independent Bank initiated with a Neutral at Janney Montgomery Scott
01/26/22 Truist
Independent Bank price target raised to $85 from $80 at Truist
IBTX Independent Bank
/

+

Recommendations
Texas Capital price target raised to $68 from $65 at Truist » 07:47
09/14/22
09/14
07:47
09/14/22
07:47
TCBI

Texas Capital

$60.96 /

-0.305 (-0.50%)

Truist analyst Jennifer…

Truist analyst Jennifer Demba raised the firm's price target on Texas Capital to $68 from $65 and keeps a Buy rating on the shares as part of a broader research note on Banks. The analyst is updating her estimates to reflect slightly higher net interest margins and lower credit costs over the near term, adding that as the pace of Fed Funds hikes this year slows the economy, investors will gravitate toward bank stocks with conservative credit cultures and more discounted stock valuations.

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TCBI Texas Capital
$60.96 /

-0.305 (-0.50%)

TCBI Texas Capital
$60.96 /

-0.305 (-0.50%)

09/13/22 Raymond James
Texas Capital price target raised to $73 from $70 at Raymond James
09/12/22 RBC Capital
Texas Capital price target raised to $62 from $59 at RBC Capital
09/08/22 BofA
Texas Capital downgraded to Underperform with $55 target at BofA
09/08/22 BofA
Texas Capital downgraded to Underperform from Neutral at BofA
TCBI Texas Capital
$60.96 /

-0.305 (-0.50%)

TCBI Texas Capital
$60.96 /

-0.305 (-0.50%)

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