TipRanks
1 min read
In This Article:
Piper Sandler assumed coverage of Chemung Financial (CHMG) with a Neutral rating and $57 price target The firm assumed four regional banks largely based in Upstate New York, with Financial Institutions (FISI) its favored name. The bank has tended to trade at a discount to its peer group on a forward price-to-earnings basis in part given its sub peer profitability and more limited liquidity, the analyst tells investors in a research note. Piper believes the recent capital raise and balance sheet restructuring should pull forward profitability.
-
Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
-
Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks>>
Read More on CHMG: