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According to Keefe, Bruyette & Woods, Viewpoint Financial
VPFG recently applied to convert the bank's charter to a national bank charter from a thrift charter.
Keefe, Bruyette & Woods said that it believes these changes are due to the evolving commercial banking strategy and it believes the previous OTS restrictions regarding buybacks and the sale of the company will remain in place. “Unrelated to the potential charter change, we are also downgrading the shares to MP due to valuation.”
Viewpoint Financial closed yesterday at $13.17.
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Posted In: Analyst ColorDowngradesAnalyst RatingsFinancialsKeefe Bruyette & WoodsThrifts & Mortgage FinanceViewpoint Financial Group
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