- "Above-average" asset-sensitivity, "outsize" potential benefits from deregulation, and a cheap valuation are behind analyst Matthew Keating making TCF Financial (TCB +0.8%) a Top Pick, replacing Signature Bank (SBNY +0.3%).
- Upgraded to Overweight is BankUnited (BKU +1.9%), with Keating noting a valuation discount, but loan growth expectations nearly double that of peers.
- Upgraded to Equalweight from Underweight is Synovus (SNV +0.4%).
- Downgraded to Underweight are Dime Community (DCOM -7.2%) thanks to its liability sensitivity in a rising rate environment.
- Also cut to Underweight is Investors Bancorp (ISBC -1.5%), with Keating also noting its liability sensitivity.
- Also on the upgrade list: Cullen/Frost (CFR +1.1%).
- Also on the downgrade list: Fulton Financial (FULT -0.3%).
- Source: Bloomberg