Keefe Bruyette upgraded TowneBank to Outperform from Market Perform with a price target of $40, up from $35. The analyst believes TowneBank is well positioned for above average net interest income and earnings growth through 2026 given a combination of back book repricing opportunity, lower deposit costs, improved growth, better mortgage revenue and accretion from the Village Bank acquisition.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TOWN: