Publications

OFG: Strong Loan Originations, Closing of Major Acquisition

• Joseph Gladue, CFA, PRM
• Banking Research & Commentary
• March 19, 2020
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OFG: Strong Loan Originations, Closing of Major Acquisition Suggest Good 2020; Raising EPS Estimates, Maintaining Target Price; Reiterating Outperform Rating. OFG Bancorp (OFG – NYSE – Closing Price: $19.92) Rating: Outperform / Buy Price: $24.00  / Target...

FBP: Merger Expenses Trim 4Q19 Results

• Joseph Gladue, CFA, PRM
• Banking Research & Commentary
• March 19, 2020
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FBP: Merger Expenses Trim 4Q19 Results; Progress Made on Asset Quality, Loan Growth, Core Funding; Maintaining Price Target; Reiterating Outperform Rating. First BanCorp (FBP – NYSE – Recent Price: $9.42) Rating: Outperform / Buy Price: $11.50  / Target...

BPOP: Loan Growth, Capital Actions Lead to Higher EPS Estimates

• Joseph Gladue, CFA, PRM
• Banking Research & Commentary
• March 19, 2020
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BPOP: Loan Growth, Capital Actions Lead to Higher EPS Estimates; Maintaining Target Price and Reiterating Outperform Rating. Popular, Inc. (BPOP – NASDAQ – Recent Intraday Price: $57.48) Rating: Outperform / Buy Price: $59.00  / Target (Sell) Price: $66.00...

CUBI: Removal of Growth Constraints, NIM Expansion

• Joseph Gladue, CFA, PRM
• Banking Research & Commentary
• March 19, 2020
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CUBI: Removal of Growth Constraints, NIM Expansion Lead to Increased EPS Estimates; Maintaining Target Price; Reiterating Outperform Rating. Customers Bancorp, Inc (CUBI – NYSE – Recent Price: $23.53)                        Rating: Outperform / Buy...

WSFS: Anticipating Continued Loan Growth and Expense Discipline in 2020

• Joseph Gladue, CFA, PRM
• Banking Research & Commentary
• March 19, 2020
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WSFS: Anticipating Continued Loan Growth and Expense Discipline in 2020; Raising EPS Estimates; Maintaining Target Price; Upgrading to Outperform Rating.         WSFS Financial Corporation (WSFS – NASDAQ GS – Recent Price: $41.22)                      ...

HBMD: Disposition of Mortgage Operation, Continued Expense Reductions

• Joseph Gladue, CFA, PRM
• Banking Research & Commentary
• March 19, 2020
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HBMD: Disposition of Mortgage Operation, Continued Expense Reductions Lead to Greater Efficiency; Raising Target Price; Reaffirming Neutral Rating.         Howard Bancorp, Inc. (HBMD – NASDAQ – Recent Intraday Price: $17.89)                        Rating:...