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Wunderlich Names The Best Southern Regional Banks Heading Into Earnings

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Wunderlich issued a report on southern regional banks Monday and analyst Kevin Reynolds noted that there “seems to be a fairly significant disconnect between sentiment and reality, as markets used a sharp drop in the price of oil as irrefutable evidence that the economic expansion in the U.S. was in peril.

“However, in a quarter in which the price of oil declined over 40 percent and the yield on 10-year Treasurys fell sharply toward the 2.00 percent threshold, commercial & industrial (C&I) loans outstanding for domestically chartered banks increased at a 15 percent annualized pace.”

Reynolds commented that “as it relates to our 4Q14 earnings preview, the fourth quarter should be fine, if not very strong, with a solid bias to the upside vs. consensus expectations in most cases.”

First Horizon National Corp (NYSE: FHN), Cullen/Frost Bankers, Inc. (NYSE: CFR) and Pinnacle Financial Partners (NASDAQ: PNFP) were rated Hold.

Below are the banks that the firm rated a Buy along with price targets.

  • BB&T Corporation (NYSE: BBT) - $45.00 price target
  • BancorpSouth, Inc. (NYSE: BXS) - $28.00 price target
  • Comerica Incorporated (NYSE: CMA) - $65.00 price target
  • Home Bancshares Inc (NASDAQ: HOMB) - $38.00 price target
  • Bank Of The Ozarks Inc (NASDAQ: OZRK) - $41.00 price target
  • Regions Financial Corp (NYSE: RF) - $13.00 price target
  • South State Corporation (NASDAQ: SSB) - $72.00 price target
  • Texas Capital Bancshares Inc (NASDAQ: TCBI) - $75.00 price target
  • Bankers Petroleum Ltd. (TSE: BNK) - $21.00 price target
  • CenterState Banks Inc (NASDAQ: CSFL) - $16.00 price target
  • Hancock Holding Company (NASDAQ: HBHC) - $43.00 price target
  • IBERIABANK Corp (NASDAQ: IBKC) - $85.00 price target
  • Renasant Corp. (NASDAQ: RNST) - $36.00 price target
  • State Bank Financial Corp (NASDAQ: STBZ) - $23.00 price target

Latest Ratings for FHN

DateFirmActionFromTo
Jun 2018Hovde GroupUpgradesMarket PerformOutperform
Apr 2018PiperJaffrayInitiates Coverage OnOverweight
Apr 2018Wells FargoUpgradesMarket PerformOutperform

View More Analyst Ratings for FHN
View the Latest Analyst Ratings

Posted-In: Kevin Reynolds WunderlichAnalyst Color Price Target Analyst Ratings

 

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