Regional Bank Price Cuts
TD Cowen lowers price targets for 10 regional banks while maintaining current ratings.
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TD Cowen cut price targets for 10 regional banks on Friday, reflecting broader pressure on the sector. The firm maintained its existing ratings across the board — keeping five banks on Buy and three on Hold Benzinga. The moves signal caution even as TD Cowen holds its fundamental view on these lenders.
Banks on Buy Despite Lower Targets
TD Cowen kept Buy ratings on five regional lenders while trimming their price targets. Prosperity Bancshares sits at $78, Old National Bancorp at $30, and Live Oak Bancshares at $44 Benzinga. Eastern Bankshares and Customers Bancorp hold targets of $25 and $91. Cullen/Frost Bankers commands the highest target at $178, while Atlantic Union Bankshares is pegged at $44 TradingView.
Hold Ratings Unchanged on Three Banks
Three regional banks remain on Hold despite the price target cuts. Texas Capital Bancshares has a target of $100, Columbia Banking System $32, and Commerce Bancshares $60 Benzinga. These ratings suggest TD Cowen sees limited upside or downside at current levels, even as valuations compress.
Regional Banking Sector Under Pressure
The broad price target cuts reflect mounting headwinds for regional lenders. Higher interest rates, deposit competition, and credit concerns have weighed on the sector TradingView. By maintaining existing ratings while lowering targets, TD Cowen signals it's adjusting valuations downward but hasn't lost conviction on the underlying investment thesis.
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