Chicopee Bancorp Coverage Initiated at Sterne Agee (CBNK)
Analysts at Sterne Agee started coverage on shares of Chicopee Bancorp (NASDAQ:CBNK) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
The analysts wrote, “Chicopee Bancorp is a small-cap, commercial bank headquartered near Springfield, Massachusetts, an area otherwise known as ‘The Crossroads’ of New England. On a fundamental basis, we believe shares of Chicopee are fairly valued; however a 13-D has been filed by a top shareholder and we believe upside remains in a potential terminal event. In a deal, we believe shares could fetch $21.00-$22.00 p/s. Overall, we believe shares are fairly valued at roughly $19.00 p/s.”
Chicopee Bancorp (NASDAQ:CBNK) remained flat at $17.86 during trading on Thursday. Chicopee Bancorp has a 52-week low of $13.50 and a 52-week high of $19.72. The stock’s 50-day moving average is $17.59 and its 200-day moving average is $17.14. The company has a market cap of $90.0 million and a P/E ratio of 31.39.
Chicopee Bancorp, Inc (NASDAQ:CBNK) is a bank holding company that operates, through its subsidiary, Chicopee Savings Bank (the Bank).
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