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In This List

Piper Sandler upgrades Reliant Bancorp, Kearny Financial on valuation

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Piper Sandler upgrades Reliant Bancorp, Kearny Financial on valuation

Upgrades

Piper Sandler analyst Stephen Scouten upgraded Brentwood, Tenn.-based Reliant Bancorp Inc. to "overweight" from "neutral" on valuation.

The price target was raised to $15 from $13. The 2020 EPS estimate was lowered to $1.35 from $1.38. The 2021 EPS estimate is $1.75.

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Piper Sandler analyst Mark Fitzgibbon upgraded Fairfield, N.J.-based Kearny Financial Corp. to "overweight" from "neutral" on valuation.

The price target was cut to $10.00 from $10.50. The EPS estimates are 46 cents for 2020 and 51 cents for 2021.

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Raymond James analysts upgraded Mattoon, Ill.-based First Mid Bancshares Inc. due to its strong underwriting standards through the cycle, very strong capital ratios and solid revenue contribution from fee income.

The company's rating was raised to "strong buy" from "outperform," and the price target was increased to $33 from $23. The GAAP EPS estimates are $2.39 for 2020 and $2.67 for 2021.

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Raymond James analysts upgraded Waterbury, Conn.-based Webster Financial Corp. over beliefs "the company is well-positioned to weather a potential economic downturn."

The company's rating was raised to "strong buy" from "market perform." The GAAP EPS estimates are $2.70 for 2020 and $2.90 for 2021. The price target is $34.

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Raymond James analysts upgraded Rosemont, Ill.-based Wintrust Financial Corp. on valuation.

"Wintrust has attractive growth prospects, a core competency in accretively rolling up smaller depositories within its footprint, healthy capital levels, and a credit team that has been through several cycles and maintained prudent underwriting throughout the bank's history," they wrote.

The company's rating was raised to "strong buy" from "outperform," and the price target was cut to $50 from $52. The GAAP EPS estimates are $4.89 for 2020 and $4.84 for 2021.

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Raymond James analysts upgraded Charleston, W.Va.-based United Bankshares Inc. due to the management's "very strong credit culture and conservative underwriting standards."

The company's rating was upgraded to "outperform" from "market perform." The GAAP EPS estimates were reduced to $2.00 from $2.58 for 2020 and to $2.45 from $2.75 for 2021. The price target is $26.

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Raymond James analysts upgraded Kansas City, Mo.-based Commerce Bancshares Inc. writing that its management team is capable of dealing with the current backdrop, and that the company maintains an "attractive" capital level.

The company's rating was upgraded to "market perform" from "underperform." The GAAP EPS estimates are $2.98 for 2020 and $3.09 for 2021.