Keefe, Bruyette & Woods Upgrades Regional Banks
CFR Hot Sheet
Rating Summary:0 Buy, 5 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Keefe, Bruyette & Woods upgrades Cullen/Frost Bankers (NYSE: CFR), Prosperity Bancshares (Nasdaq: PRSP), First Financial Bankshares (NASDAQ: FFIN) and Southside Bancshares (Nasdaq: SBSI) to Market Perform.
Keefe analyst says, "After looking over the past due 30-89 days and nonaccrual loan data for the Texas banks, we are becoming more positive on the group despite headwinds that may appear later in the year. As a result, we are upgrading CFR,PRSP, FFIN and SBSI to Market Perform from Underperform. We are increasing the target prices of PRSP to $25, FFIN to $44 and SBSI to $19."
"There remain many mixed signals for the future of the Texas economy. While we are beginning to see
stabilization of energy prices at healthier levels than earlier in the year, we also continued to be concerned with increasing unemployment in the state."
Keefe analyst says, "After looking over the past due 30-89 days and nonaccrual loan data for the Texas banks, we are becoming more positive on the group despite headwinds that may appear later in the year. As a result, we are upgrading CFR,PRSP, FFIN and SBSI to Market Perform from Underperform. We are increasing the target prices of PRSP to $25, FFIN to $44 and SBSI to $19."
"There remain many mixed signals for the future of the Texas economy. While we are beginning to see
stabilization of energy prices at healthier levels than earlier in the year, we also continued to be concerned with increasing unemployment in the state."
You May Also Be Interested In
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
- Wells Fargo Upgrades Aeropostale, Inc. (ARO) to Market Perform; Risk/Reward Even Given Improving Trends
- UPDATE: UBS Upgrades Westlake Chemical (WLK) to Neutral; Fairly Valued Now
Create E-mail Alert Related Categories
UpgradesRelated Entities
Keefe, Bruyette & WoodsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
