Susquehanna Upgraded by Sterne Agee to “Buy” (SUSQ)
Susquehanna (NASDAQ:SUSQ) was upgraded by analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $13.50 price objective on the stock. Sterne Agee’s price objective would suggest a potential upside of 14.41% from the company’s current price.
The analysts wrote, “After lowered earnings guidance last week, SUSQ shares have meaningfully underperformed regional bank peers. With the bar set much lower on the earnings front and the shares now trading at a two multiple discount to peers, we are upgrading to Buy. Potential upside catalysts include a new round of cost cutting, additional credit leverage, and more active capital management in 2015. While SUSQ is now trading at a discount on P/E metrics, we project above-average returns on tangible capital.”
Shares of Susquehanna (NASDAQ:SUSQ) traded up 0.30% during mid-day trading on Tuesday, hitting $11.835. The stock had a trading volume of 983,043 shares. Susquehanna has a 52-week low of $9.19 and a 52-week high of $14.35. The stock has a 50-day moving average of $13.12 and a 200-day moving average of $12.49. The company has a market cap of $2.216 billion and a P/E ratio of 12.70.
Susquehanna (NASDAQ:SUSQ) last released its earnings data on Wednesday, October 23rd. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.01. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, analysts predict that Susquehanna will post $0.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, October 28th.
A number of other analysts have also recently weighed in on SUSQ. Analysts at Zacks downgraded shares of Susquehanna from a “neutral” rating to an “underperform” rating in a research note to investors on Monday. They now have a $11.20 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Susquehanna from $14.00 to $13.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Susquehanna from $13.00 to $12.50 in a research note to investors on Friday. They now have a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Susquehanna currently has an average rating of “Hold” and an average price target of $13.08.
Susquehanna Bancshares, Inc (NASDAQ:SUSQ) is a financial holding company that provides a range of retail and commercial banking and financial services, through its subsidiaries in the mid-Atlantic region.
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