Monarch Financial Downgraded by Zacks to Underperform (MNRK)
Monarch Financial (NASDAQ:MNRK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, Stock Ratings Network reports. They currently have a $11.00 price objective on the stock. Zacks‘ target price indicates a potential downside of 4.60% from the company’s current price.
Shares of Monarch Financial (NASDAQ:MNRK) traded up 0.17% during mid-day trading on Monday, hitting $11.55. 29,219 shares of the company’s stock traded hands. Monarch Financial has a 1-year low of $7.9167 and a 1-year high of $13.35. The stock’s 50-day moving average is $11.95 and its 200-day moving average is $11.06. The company has a market cap of $117.5 million and a P/E ratio of 8.53.
Monarch Financial Holdings, Inc is a bank holding company commercial and retail banking, investment and insurance sales, and mortgage origination and brokerage.
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