tiprankstipranks
The Fly

Independent Bank downgraded to Equal Weight from Overweight at Stephens

Independent Bank downgraded to Equal Weight from Overweight at Stephens

Stephens downgraded Independent Bank (IBTX) to Equal Weight from Overweight following the announcement of the acquisition of Independent by South State (SSB) to better align with Stephens’ rating of the latter. Upon closing of the deal, Independent will represent 22% of South State’s pro-forma deposits, the analyst estimates.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Questions or Comments about the article? Write to editor@tipranks.com