In a Tuesday research report, the firm wrote that the downgrades are due to a more uncertain industry outlook for loan growth, especially commercial real estate, and concerns about credit and capital.
The firm believes higher interest rates could slow loan growth and credit risks, and should pressure valuations.
B. Riley wrote that it continues to favor Silvergate Capital (SI), Customers Bancorp (CUBI), Triumph Bancorp (TBK), and Meta Financial Group (CASH), noting their distinct fintech businesses.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 28.12, Change: -0.1, Percent Change: -0.35
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