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    Upgrades & Downgrades History
    UPGRADES & DOWNGRADES HISTORY 
    DateResearch FirmActionFromTo
    20-Dec-16FBR & Co.DowngradeOutperformMkt Perform
    15-Dec-16BofA/MerrillDowngradeNeutralUnderperform
    15-Jun-16Compass PointDowngradeNeutralSell
    14-Mar-16Compass PointDowngradeBuyNeutral
    23-Feb-16FBR CapitalUpgradeMkt PerformOutperform
    15-Jan-16Wells FargoDowngradeOutperformMarket Perform
    9-Oct-15BofA/MerrillUpgradeUnderperformNeutral
    9-Oct-15FBR CapitalUpgradeUnderperformMkt Perform
    13-Aug-15Compass PointUpgradeNeutralBuy
    12-Aug-15NomuraUpgradeNeutralBuy
    8-Apr-15FBR CapitalDowngradeMkt PerformUnderperform
    24-Mar-14Compass PointDowngradeBuyNeutral
    25-Apr-13FBR CapitalUpgradeUnderperformMkt Perform
    17-Oct-12Compass PointUpgradeNeutralBuy
    6-Aug-12FBR CapitalDowngradeMkt PerformUnderperform
    3-Aug-12WunderlichDowngradeBuyHold
    15-Jun-12Compass PointDowngradeBuyNeutral
    9-Apr-12Compass PointUpgradeNeutralBuy
    8-Feb-12FBR CapitalDowngradeOutperformMkt Perform
    3-Jan-12RBC Capital MktsDowngradeTop PickOutperform
    3-Nov-11Ladenburg ThalmannDowngradeBuyNeutral
    23-Sep-11UBSInitiatedNeutral
    4-Mar-11Stifel NicolausDowngradeBuyHold
    21-Jul-10FBR CapitalUpgradeMkt PerformOutperform
    8-Jul-10WunderlichInitiatedBuy
    15-Jun-10FBR CapitalDowngradeOutperformMkt Perform
    7-May-10JMP SecuritiesUpgradeMkt PerformMkt Outperform
    25-Mar-10Sterne AgeeDowngradeBuyNeutral
    11-Mar-10JMP SecuritiesDowngradeMkt OutperformMkt Perform
    10-Mar-10JP MorganDowngradeOverweightNeutral
    8-Jan-10Piper JaffrayDowngradeNeutralUnderweight
    29-Oct-09Sterne AgeeUpgradeNeutralBuy
    10-Dec-08Banc of America SecInitiatedNeutral
    30-Sep-08Sterne AgeeInitiatedBuy
    8-Sep-08Credit SuisseUpgradeNeutralOutperform
    11-Jun-08JP MorganDowngradeOverweightNeutral
    1-May-08CitigroupDowngradeBuyHold
    8-Jan-08Stifel NicolausInitiatedBuy
    15-Oct-07UBSUpgradeNeutralBuy
    12-Oct-07RBC Capital MktsUpgradeSector PerformOutperform
    18-Sep-07JMP SecuritiesInitiatedStrong Buy
    27-Jul-07CitigroupUpgradeHoldBuy
    6-Dec-06Bear StearnsDowngradeOutperformPeer Perform
    3-Nov-06JP MorganUpgradeNeutralOverweight
    24-Oct-06JP MorganUpgradeUnderweightNeutral
    22-May-06Keefe BruyetteUpgradeMkt PerformOutperform
    8-May-06UBSUpgradeNeutralBuy
    19-Apr-06Friedman BillingsUpgradeMkt PerformOutperform
    24-Jan-06CitigroupUpgradeSellHold
    11-Jan-06Friedman BillingsUpgradeUnderperformMkt Perform
    13-Dec-05Deutsche SecuritiesUpgradeHoldBuy
    2-Dec-05UBSInitiatedNeutral
    28-Oct-05JMP SecuritiesUpgradeSellMkt Underperform
    16-Sep-05Piper JaffrayDowngradeOutperformMarket Perform
    25-Aug-05JP MorganDowngradeNeutralUnderweight
    27-Jul-05Friedman BillingsDowngradeMkt PerformUnderperform
    27-Jul-05JMP SecuritiesDowngradeMkt UnderperformSell
    18-Jul-05JMP SecuritiesDowngradeMkt PerformMkt Underperform
    1-Jul-05Keefe BruyetteInitiatedMkt Perform
    23-Jun-05Deutsche SecuritiesInitiatedHold
    11-Mar-05Smith Barney CitigroupInitiatedSell
    23-Jun-04Friedman BillingsDowngradeOutperformMkt Perform
    14-Apr-04Merrill LynchDowngradeBuyNeutral
    25-Mar-04WR HambrechtDowngradeBuyHold
    24-Mar-04UBSDowngradeBuyNeutral
    27-Jan-04JMP SecuritiesUpgradeSellMkt Perform
    18-Dec-03Friedman BillingsUpgradeUnderperformOutperform
    11-Dec-03WachoviaInitiatedMkt Perform
    2-Oct-03UBSInitiatedBuy
    10-Sep-03JMP SecuritiesDowngradeMkt PerformSell
    15-Apr-03WR HambrechtInitiatedBuy
    5-Feb-03JMP SecuritiesDowngradeMkt OutperformMkt Perform
    7-Oct-02UBS WarburgUpgradeBuyStrong Buy
    17-Sep-02JMP SecuritiesDowngradeStrong BuyMkt Outperform
    5-Sep-02UBS WarburgDowngradeStrong BuyBuy
    3-Jul-02JMP SecuritiesUpgradeMkt OutperformStrong Buy
    2-Jul-02UBS WarburgUpgradeHoldStrong Buy
    24-Jun-02UBS WarburgDowngradeBuyHold
    7-May-02UBS WarburgDowngradeStrong BuyBuy
    25-Mar-02RBC Capital MktsDowngradeTop PickSector Perform
    28-Jan-02Jolson MPDowngradeStrong BuyLT Buy
    25-Jan-02USB Piper JaffrayInitiatedOutperform
    23-Jan-02UBS WarburgUpgradeBuyStrong Buy
    18-Jan-02Merrill LynchInitiatedNT Buy/LT Neutral
    15-Nov-01RBC Capital MktsInitiatedStrong Buy
    25-Sep-01ABN AMROInitiatedBuy
    24-Sep-01ABN AMROInitiatedBuy
    1-May-01Jolson MPInitiatedStrong Buy
    4-Jan-01Tucker Anthny Cap MktsUpgradeBuyStrong Buy
    18-Dec-00UBS WarburgInitiatedBuy
    11-Aug-99Sutro & CoDowngradeAccumulateHold
    4-Dec-98Sutro & CoUpgradeAccumulateBuy
    3-Dec-98NB MontgomeryInitiatedBuy

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