UPDATE: Raymond James Initiates Coverage on Talmer Bancorp on Multiple Positive Factors

In a report published Monday, Raymond James analyst David J. Long initiated coverage on

with a Strong Buy rating and $16.00 price target. In the report, Raymond James noted, “We are initiating coverage of Talmer Bancorp (TLMR) with a Strong Buy investment rating. Talmer is a proven acquirer with an experienced management team that should also witness accelerating loan growth. The combination of strong loan growth and the rationalization of expenses from prior acquisitions position the company for rapid EPS growth over the next couple of years. Such growth can accelerate further with additional accretive acquisitions, which we do not model for but expect the bank to pursue. As a result, we believe its shares should trade at a premium to peers.” Talmer Bancorp closed on Friday at $13.86.