UPDATE: DA Davidson Initiates Great Southern Bancorp at Neutral on Expanded Footprint
DA Davidson initiated coverage on Great Southern Bancorp (NASDAQ: GSBC) with a Neutral rating and a $28.00 price target.
DA Davidson noted, "Over the past five years, Great Southern has evolved from a Missouri-only franchise with poor-quality funding and risky loan exposure to a 6-state regional bank with an improved deposit base and more dynamic yet stable loan and retail products. We believe the company is well-positioned to take market share, even with a less than robust outlook for the industry. We are establishing an initial target for GSBC at $28, which equals 14.4x and ~1.15x our initial 2014 EPS and TBV estimates."
Great Southern Bancorp closed at $26.19 on Thursday.
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