Sterne Agee Initiates Coverage of State Bank Financial Corporation with Neutral Rating
In a company report published earlier today, Sterne Agee Group, Inc. initiated coverage of State Bank Financial Corporation (NASDAQ: STBZ) with a Neutral rating, but did not name a price target.
Sterne Agee went on to say, “We are favorably disposed to the strategy, management and long-term prospects, but lack near-term visibility on deal flow to deploy capital and offset covered loan run-off. Absent a change in the backdrop of limited M&A and low reinvestment rates, we anticipate a sideways trading range with upside limited by risks to EPS expectations and downside limited by excess capital and TBVS growth.”
State Bank Financial Corporation closed yesterday at $14.99.
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