Compass Point Starts F&M Bank (FMBM) at Neutral

Compass Point initiates coverage on F&M Bank (: FMBM) with a Neutral rating and a price target of $23.00.

Analyst Laurie Havener Hunsicker commented, "We initiate on FMBM with a Neutral rating and a price target (PT) of $23, representing 1.1x tangible book (TB) and 10.6x FY16E EPS. We introduce operating EPS for FY15E and FY16E of $2.18 and $2.23, respectively. FMBM's footprint, while rural, is a stable and attractive geography due to the rapid DC growth that continues its western march as well as the university effect. Additionally, the possible conversion of the preferred should help unlock overhang. In the near term, while we believe that FMBM intends to remain independent, we also believe that FMBM would be an attractive candidate, should the board ever decide to pursue a sale."

For an analyst ratings summary and ratings history on F&M Bank click here. For more ratings news on F&M Bank click here.

Shares of F&M Bank closed at $21.30 yesterday.

You May Also Be Interested In

• Wedbush Starts Immunic Inc. (IMUX) at Outperform
• Gemini Space Station (GEMI) PT Lowered to $6 at Rosenblatt
• Northland Upgrades Astera Labs (ALAB) to Outperform, 'Right Time, Customers, and Products'