Financial sector rating changes: PACW, TCB, FIBK, ESNT, CUZ, TRV, BCS,
- FBR upgrades Pac West Bancorp (PACW +3.7%) and TCF Financial (TCB +3.1%) to Outperfom and sets price targets of $47 and $18 respectively.
- KBW upgrades First Interstate Bancsystem (FIBK +1.7%) to Outperform with $32 PT.
- Double upgrades are in order for Essent Group (ESNT +2.5%), from Compass Point and KBW, after last week's Q1 earnings.
- Stifel Nicolaus upgrades Cousins Properties (CUZ +1.4%) to Buy with $13PT after the company beats estimates by $0.02.
- Guggenheim upgrades Travelers Companies (TRV +1.1%) to Buy and sets a $117 PT.
- Responding to weakish earnings last week from Barclays (BCS -1.5%) coupled with the plan for an overhaul at the investment bank, RBC Capital and BNP Paribas downgraded the stock to Sector Perform.