KBW Maintains Market Perform on StellarOne (STEL)

KBW is out with its report today on StellarOne STEL, maintaining Market Perform. In a note to clients, KBW writes, "STEL reported another in-line quarter, beating our estimate by a penny on better expenses. PTPP revenues remained flat sequentially at $8.2M. NPAs, past dues and overall credit costs were down from year end. We are adjusting our 2011 estimates to incorporate a lower near-term tax rate, but reiterate both our $13 price target and Market Perform rating." Shares of STEL closed Friday at $14.06, down 0.71% from Thursday's close.
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Posted In: Analyst ColorAnalyst RatingsFinancialsKBWRegional BanksStellarOne
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