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UPDATE: FIG Partners Initiates Coverage on DNB Financial on Multiple Positive Factors


In a report published Monday, FIG Partners analyst Brian Martin initiated coverage on DNB Financial Corp. (NASDAQ: DNBF) with an Outperform rating and $23.00 price target.

In the report, FIG Partners noted, “Our 2014 & 2015 EPS projections are $1.78 and $2.05, respectively. The franchise is highly attractive given its enviable footprint, Core Deposits (less than 17% of Deposits are CDs), clean credit quality, excellent expense controls and opportunity to remix the balance sheet and boost already solid EPS & profitability. In our view, the market does not yet fully recognize this combined potential at ~120% of TBV or a 2.2% core deposit premium. To date DNBF has not been active on the M&A front; however, with an improving currency and desire to add scale we suspect they may become more opportunistic prospectively which would likely add to earnings.”

DNB Financial Corp.closed on Friday at $19.80.

Latest Ratings for DNBF

Jul 2014DowngradesOutperformMarket Perform
Dec 2013Initiates Coverage onOutperform

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Posted-In: Brian Martin FIG PartnersAnalyst Color Initiation Analyst Ratings


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