Wunderlich Names The Best Southern Regional Banks Heading Into Earnings

Kevin Riley

Mon, Jan 12, 2015, 11:30 AM

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

Jan 2015	Raymond James	Downgrades	Outperform	Market Perform
Jan 2015	Barclays	Maintains		Equal-weight
Nov 2014	Jefferies	Maintains		Hold

View More Analyst Ratings for FHN
View the Latest Analyst Ratings

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Wunderlich Names The Best Southern Regional Banks Heading Into Earnings

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