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KBW downgrades Equity Bancshares to 'market perform'

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KBW downgrades Equity Bancshares to 'market perform'

Downgrades

Keefe Bruyette & Woods Inc. analyst Michael Perito downgraded Wichita, Kan.-based Equity Bancshares Inc.'s stock rating to "market perform" from "outperform" and lowered the price target to $45 from $47.

Perito wrote that Equity Bancshares has a considerable number of smaller banks to choose from for acquisition, which will help support the company's forward estimate trajectory, in comparison with its peers.

The analyst believes that there are some other community banks with favorable outlooks but at lesser valuations.

Perito's EPS estimates for Equity Bancshares are $2.70 for 2018, $3.13 for 2019 and $3.27 for 2020.

Initiation

Argus Research analyst Kevin Heal initiated coverage of Dallas-based Comerica Inc.'s stock at "buy" and set a price target of $88.

Heal wrote that Comerica continues to increase its revenue and earnings using better cost controls, increased middle-market lending and wider net interest margins. The bank is also taking advantage of a high loan-to-deposit ratio and strong capital levels.

The analyst expects the bank to see net interest income growth of 12% in 2018, and 5% in 2019.

Heal's EPS estimates for Comerica are $7.26 for 2018 and $8.00 for 2019.

Dropped Coverage

Joseph Fenech of Hovde Group dropped coverage of Weston, Fla.-based FCB Financial Holdings Inc., following the completion of the company's merger with Columbus, Ga.-based Synovus Financial Corp.

The analyst's last stock rating for FCB Financial was "market perform" and its price target was $60.