KBW shifts ratings on several smaller banks

|By:, SA News Editor

"Eastern Virginia Bancshares (EVBS) made significant progress in 2013 in balance sheet restructuring and profitability improvement, and we believe the preferred repayment and loan growth will take EVBS to the next stage in 2014," says analyst Catherine Mealor, nevertheless downgrading to Market Perform as the stock trades at 1.3x TBV and 12.3x expected 2015 EPS.

In other small bank moves at KBW: Capital City Bank (CCBG) is boosted to Outperform with price target raised to $17 from $11, and an Underperform rating is lifted on Valley National Bancorp (VLY) with price target lifted to $9.50 from $8.50.