Wunderlich Securities Reiterates First Pactrust Bancorp Buy, PT

Wunderlich Securities reiterated its First Pactrust Bancorp

Buy rating and $20 price target in a research report published today. In the report, Wunderlich Securities states, "We reiterate our Buy rating on shares of First PacTrust Bancorp (

) and our $20 price target after the company announced the acquisition of Beach Business Bank (BBBC-NR) for approximately $37.4 million in cash and stock in a deal that is expected to be immediately accretive to EPS." Shares of First Pactrust Bancorp were trading at $12.16 at the time of posting, up 2.44% from Wednesday's market close.