Market Overview

Wunderlich Securities Maintains First Trust Bancorp Buy, $16 PT


Wunderlich Securities maintained its First Trust Bancorp (NASDAQ: BANC) Buy rating and $16 price target in a research report published today.

In the report, Wunderlich Securities stated, "We maintain our Buy rating on shares of First PacTrust Bancorp (BANC) and our $16 price target after the company reported breakeven 1Q12 EPS, which missed our $0.08 estimate due to higher expenses, partially offset by lower credit costs than we anticipated."

Later in the report, Wunderlich Securities noted, "Quarterly results continue to be noisy, reflecting the early stages of a transition towards becoming a more commercially oriented institution, but our long-term view on BANC is still intact, and we believe that current levels understate the inherent value of the company's abundant capital, growth opportunities and veteran management team."

Shares of First Trust Bancorp were trading at $11.01 at the time of posting, down 1.26% from Friday's market close.


Related Articles (BANC)

View Comments and Join the Discussion!

Posted-In: Wunderlich SecuritiesAnalyst Color Analyst Ratings

Latest Ratings

HYMCBMO CapitalInitiates Coverage On
DEMorgan StanleyMaintains335.0
SBNYRaymond JamesMaintains138.0
CORTHC Wainwright & Co.Maintains32.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at