Keefe, Bruyette & Woods Downgrades First State Bancorporation (FSNM) to Market Perform
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Keefe, Bruyette & Woods downgrades First State Bancorporation (Nasdaq: FSNM) to Market Perform. Price target $1.
Keefe analyst says, "FSNM is "under-capitalized" on a consolidated basis and "adequately capitalized" at the bank level. While the company continues to de-lever, FSNM needs additional capital to get through the cycle. Therefore we are downgrading to Market Perform and lowering our target price to $1."
To see all the upgrades/downgrades on shares of FSNM, visit our Analyst Ratings page.
First State Bancorporation operates as the holding company for First Community Bank, which provides commercial banking services to businesses, individuals, and local governments in the United States.
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