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Sandler downgrades State Bank Financial Corp. to 'hold'

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Sandler downgrades State Bank Financial Corp. to 'hold'

Downgrade

* Sandler O'Neill & Partners analyst Stephen Scouten downgraded his rating on Atlanta-based State Bank Financial Corp.'s stock to "hold" from "buy" and raised the price target to $37 from $35.

The analyst attributed the downgrade to the announcement of State Bank Financial's merger with Houston-based Cadence Bancorp., and the deal's terms.

Initiation

* Joseph Gladue of Merion Capital Group is now covering Waldorf, Md.-based Community Financial Corp.'s stock. He gave it a "outperform" rating and a price target of $42.

The analyst introduced Community Financial's EPS estimates at $2.32 for 2018, $3.18 for 2019, and $3.55 for 2020.

Gladue wrote that once the integration of Community Financial's acquisition of County First Bank is completed, Community Financial's management may consider other opportunities for M&A. Community Financial, according to the analyst, could draw attention of a larger bank as an acquisition target, "given its strong market share in Southern Maryland, and its growing presence in other attractive markets around Washington, D.C."