- A roughly 25% gain in the KBW bank index since the election is attracting investors to the sector, and likely to bring sellers to the negotiating table, writes analyst Payton Green.
- Potential targets: Green Bancorp (NASDAQ:GNBC), Guaranty Bancorp (NASDAQ:GBNK), Blue Hills Bancorp (NASDAQ:BHBK), Flagstar Bancorp (NYSE:FBC), MidWestOne Financial (NASDAQ:MOFG), First Bancorp (NASDAQ:FNBC), Opus Bank (NASDAQ:OPB), Pacific Premier (NASDAQ:PPBI), First Foundation (NASDAQ:FFWM).
- Potential "disciplined" buyers: Western Alliance (NYSE:WAL), Independent Bank (NASDAQ:IBTX), Independent Bank (NASDAQ:INDB), Heritage Financial (NASDAQ:HFWA), Horizon Bancorp (NASDAQ:HBNC), Bank of the Ozarks (NASDAQ:OZRK).
- Potential buyers once emerged from regulatory issues: Ameris (NASDAQ:ABCB), U.S. Bancorp (NYSE:USB), BancorpSouth (NYSE:BXS).
- Assuming cost savings of 25%-35%, the average bank in Green's coverage universe could be worth 13%-26% more than the current price.
- Source: Felice Maranz at Bloomberg
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Original article