Analyst Ratings Published by Hovde Group

7/31/24	Upgrades	Mkt Perform Outperform	X
ACNB ACNB Corporation Hovde Group
$45
12/18/23	Downgrades	Outperform Mkt Perform	X
ACNB ACNB Corporation Hovde Group
$40 $47
5/31/23	Initiated	Outperform	X
ACNB ACNB Corporation Hovde Group
$36
5/16/24	Upgrades	Mkt Perform Outperform	X
ALRS Alerus Financial Hovde Group
$21 $23
1/26/23	Downgrades	Outperform Mkt Perform	X
ALRS Alerus Financial Hovde Group
$21
7/29/22	Upgrades	Mkt Perform Outperform	X
ALRS Alerus Financial Hovde Group
$27 $28
5/18/22	Initiated	Market Perform	X
ALRS Alerus Financial Hovde Group
$29
4/28/22	Upgrades	Mkt Perform Outperform	X
ARCC Ares Capital Hovde Group
3/7/22	Initiated	Market Perform	X
ARCC Ares Capital Hovde Group
$22.50
7/25/25	Reiterated	Market Perform	X
AROW Arrow Financial Hovde Group
$27.50 $28.50
12/27/24	Reiterated	Market Perform	X
AROW Arrow Financial Hovde Group
$34.50 $32
9/9/24	Resumed	Market Perform	X
AROW Arrow Financial Hovde Group
$28 $31
3/17/25	Reiterated	Outperform	X
AUB Atlantic Union Bankshares Hovde Group
$46 $40
1/27/25	Reiterated	Outperform	X
AUB Atlantic Union Bankshares Hovde Group
$47 $46
9/13/24	Reiterated	Outperform	X
AUB Atlantic Union Bankshares Hovde Group
$46 $45
7/26/24	Reiterated	Outperform	X
AUB Atlantic Union Bankshares Hovde Group
$40 $46
11/29/22	Initiated	Outperform	X
AUB Atlantic Union Bankshares Hovde Group
$41
2/12/25	Downgrades	Outperform Mkt Perform	X
BCML BayCom Hovde Group
$31
10/18/24	Reiterated	Outperform	X
BCML BayCom Hovde Group
$26 $28
7/12/24	Resumed	Outperform	X
BCML BayCom Hovde Group
$24
4/22/24	Resumed	Outperform	X
BCML BayCom Hovde Group
$23.50 $24
2/4/19	Initiated	Outperform	X
BCML BayCom Hovde Group
$24.50
7/26/18	Reiterated	Market Perform	X
BDGE Bridge Bancorp Hovde Group
$37 $38
5/6/25	Upgrades	Mkt Perform Outperform	X
BFC Bank First Corporation Hovde Group
$130
3/4/24	Downgrades	Outperform Mkt Perform	X
BFC Bank First Corporation Hovde Group
1/24/25	Upgrades	Mkt Perform Outperform	X
BFST Business First Bancshares Hovde Group
$31.50 $33
11/13/24	Downgrades	Outperform Mkt Perform	X
BFST Business First Bancshares Hovde Group
$30 $31.50
7/26/24	Reiterated	Outperform	X
BFST Business First Bancshares Hovde Group
$29 $30
7/19/24	Reiterated	Outperform	X
BHLB Berkshire Hills Bancorp Hovde Group
$28 $31
9/13/22	Initiated	Outperform	X
BHLB Berkshire Hills Bancorp Hovde Group
$33
7/24/25	Reiterated	Outperform	X
BKU BankUnited Hovde Group
$43 $44
3/25/25	Reiterated	Outperform	X
BKU BankUnited Hovde Group
$46 $44
7/19/24	Reiterated	Outperform	X
BKU BankUnited Hovde Group
$33 $41
3/8/21	Upgrades	Mkt Perform Outperform	X
BKU BankUnited Hovde Group
$42 $51
2/7/18	Downgrades	Outperform Mkt Perform	X
BKU BankUnited Hovde Group
$45 $44
7/22/25	Reiterated	Outperform	X
BOKF BOK Financial Hovde Group
$110 $123
4/23/25	Reiterated	Outperform	X
BOKF BOK Financial Hovde Group
$122 $110
7/24/24	Reiterated	Outperform	X
BOKF BOK Financial Hovde Group
$106 $122
4/25/24	Reiterated	Market Perform	X
BOKF BOK Financial Hovde Group
$96 $97
7/26/18	Reiterated	Market Perform	X
BOKF BOK Financial Hovde Group
$100 $105
7/24/25	Reiterated	Outperform	X
BPOP Popular Hovde Group
$126 $140
6/18/25	Reiterated	Outperform	X
BPOP Popular Hovde Group
$114 $126
4/24/25	Reiterated	Outperform	X
BPOP Popular Hovde Group
$118 $114
7/25/24	Reiterated	Outperform	X
BPOP Popular Hovde Group
$113 $123
4/24/24	Reiterated	Outperform	X
BPOP Popular Hovde Group
$112 $113
12/20/21	Initiated	Outperform	X
BPOP Popular Hovde Group
$107
11/19/24	Initiated	Market Perform	X
BPRN Bank of Princeton Hovde Group
$40
9/20/23	Initiated	Outperform	X
BRKL Brookline Bancorp Hovde Group
$10.75
1/31/23	Downgrades	Outperform Mkt Perform	X
BSRR Sierra Bancorp Hovde Group
$24
2/14/18	Upgrades	Mkt Perform Outperform	X
BSRR Sierra Bancorp Hovde Group
$30
6/30/25	Initiated	Market Perform	X
BUSE First Busey Corp Hovde Group
3/4/24	Resumed	Outperform	X
BWB Bridgewater Bancshares Hovde Group
7/29/25	Reiterated	Market Perform	X
BWFG Bankwell Financial Group Hovde Group
$38.50 $42
6/23/25	Resumed	Market Perform	X
BWFG Bankwell Financial Group Hovde Group
$35 $38.50
5/10/23	Initiated	Outperform	X
BWFG Bankwell Financial Group Hovde Group
$26
4/13/21	Upgrades	Mkt Perform Outperform	X
BXS BancorpSouth Hovde Group
$36
1/27/25	Reiterated	Outperform	X
BY Byline Bancorp Hovde Group
$33 $34
5/20/24	Resumed	Outperform	X
BY Byline Bancorp Hovde Group
$26 $27.50
7/28/25	Reiterated	Market Perform	X
CADE Cadence Bank Hovde Group
$34 $40
4/29/25	Reiterated	Outperform	X
CADE Cadence Bank Hovde Group
$32 $34
7/24/24	Reiterated	Outperform	X
CADE Cadence Bank Hovde Group
$33 $36.50
4/24/24	Upgrades	Mkt Perform Outperform	X
CADE Cadence Bank Hovde Group
$32.50 $33
1/30/24	Downgrades	Outperform Mkt Perform	X
CADE Cadence Bank Hovde Group
$32.50
10/2/24	Initiated	Outperform	X
CARE Carter Bank & Trust Hovde Group
$22
7/29/25	Reiterated	Outperform	X
CBAN Colony Bankcorp Hovde Group
$19.50 $21
7/29/25	Reiterated	Outperform	X
CBNK Capital Bancorp Hovde Group
$35 $39
3/17/25	Reiterated	Outperform	X
CBNK Capital Bancorp Hovde Group
$36 $34
7/24/24	Reiterated	Outperform	X
CBNK Capital Bancorp Hovde Group
$26 $28
4/23/24	Reiterated	Outperform	X
CBNK Capital Bancorp Hovde Group
$27 $26
11/5/18	Upgrades	Mkt Perform Outperform	X
CBNK Capital Bancorp Hovde Group
10/22/18	Initiated	Market Perform	X
CBNK Capital Bancorp Hovde Group
$14
6/28/23	Upgrades	Mkt Perform Outperform	X
CBU Community Bank Hovde Group
7/24/18	Downgrades	Outperform Mkt Perform	X
CBU Community Bank Hovde Group
3/28/18	Upgrades	Mkt Perform Outperform	X
CBU Community Bank Hovde Group
$58
4/30/25	Reiterated	Outperform	X
CCB Coastal Financial Hovde Group
$120 $110
10/29/24	Reiterated	Outperform	X
CCB Coastal Financial Hovde Group
$67 $76
7/30/24	Reiterated	Outperform	X
CCB Coastal Financial Hovde Group
$55 $67
8/13/18	Initiated	Outperform	X
CCB Coastal Financial Hovde Group
$20
7/24/24	Reiterated	Market Perform	X
CCBG Capital City Bank Hovde Group
$30 $37
7/23/25	Reiterated	Market Perform	X
CHCO City Holding Co Hovde Group
$130 $136
5/2/24	Reiterated	Market Perform	X
CHCO City Holding Co Hovde Group
$110 $113
6/3/19	Initiated	Market Perform	X
CHCO City Holding Co Hovde Group
$76
6/20/23	Initiated	Market Perform	X
CION CION Investment Hovde Group
$11.50
10/30/24	Upgrades	Mkt Perform Outperform	X
CIVB Civista Bancshares Hovde Group
$22
4/1/24	Resumed	Market Perform	X
CIVB Civista Bancshares Hovde Group
$16
7/29/22	Downgrades	Outperform Mkt Perform	X
CIVB Civista Bancshares Hovde Group
$27.50 $25
9/19/18	Upgrades	Mkt Perform Outperform	X
CIVB Civista Bancshares Hovde Group
$26
4/24/25	Reiterated	Outperform	X
CNOB ConnectOne Bancorp Hovde Group
$29 $29.50
10/6/23	Initiated	Outperform	X
CNOB ConnectOne Bancorp Hovde Group
$21
3/19/21	Initiated	Outperform	X
CSTR CapStar Financial Hovde Group
$22
3/5/21	Initiated	Outperform	X
CSWC Capital Southwest Corp. Hovde Group
$24
8/9/24	Downgrades	Outperform Mkt Perform	X
CUBI Customers Bancorp Hovde Group
$49
5/2/24	Reiterated	Outperform	X
CUBI Customers Bancorp Hovde Group
$66 $63
4/22/24	Downgrades	Outperform Mkt Perform	X
CVBF CVB Financial Hovde Group
$18
3/4/24	Upgrades	Mkt Perform Outperform	X
CZWI Citizens Community Bancorp Hovde Group
4/26/23	Downgrades	Outperform Mkt Perform	X
CZWI Citizens Community Bancorp Hovde Group
$11.50
3/22/19	Initiated	Outperform	X
CZWI Citizens Community Bancorp Hovde Group
$14
7/5/24	Resumed	Market Perform	X
EBMT Eagle Bancorp Montana Hovde Group
$14 $13.50
4/22/24	Resumed	Market Perform	X
EBMT Eagle Bancorp Montana Hovde Group
$14
1/4/23	Downgrades	Outperform Mkt Perform	X
EBMT Eagle Bancorp Montana Hovde Group
1/23/25	Reiterated	Outperform	X
EQBK Equity Bancshares Hovde Group
$56 $57
5/3/21	Downgrades	Outperform Mkt Perform	X
EVBN Evans Bancorp Hovde Group
$37 $38
7/12/19	Downgrades	Outperform Mkt Perform	X
EVBN Evans Bancorp Hovde Group
1/2/19	Upgrades	Mkt Perform Outperform	X
EVBN Evans Bancorp Hovde Group
$38
8/27/18	Downgrades	Outperform Mkt Perform	X
EVBN Evans Bancorp Hovde Group
$50
4/1/25	Upgrades	Mkt Perform Outperform	X
FBK FB Financial Hovde Group
$60 $59
11/18/24	Downgrades	Outperform Mkt Perform	X
FBK FB Financial Hovde Group
$60
10/21/24	Reiterated	Outperform	X
FBK FB Financial Hovde Group
$52.50 $56
4/16/24	Upgrades	Mkt Perform Outperform	X
FBK FB Financial Hovde Group
$40 $40.50
1/17/24	Downgrades	Outperform Mkt Perform	X
FBK FB Financial Hovde Group
$41.50 $40
10/18/23	Upgrades	Mkt Perform Outperform	X
FBK FB Financial Hovde Group
$35.50
12/14/22	Downgrades	Outperform Mkt Perform	X
FBK FB Financial Hovde Group
$42
7/29/24	Reiterated	Market Perform	X
FBMS First Bancshares Hovde Group
$29 $32.50
1/4/23	Downgrades	Outperform Mkt Perform	X
FBMS First Bancshares Hovde Group
$35
10/31/22	Upgrades	Mkt Perform Outperform	X
FBMS First Bancshares Hovde Group
$38
10/25/24	Reiterated	Outperform	X
FBP First Bancorp Hovde Group
$25 $24
7/24/24	Reiterated	Outperform	X
FBP First Bancorp Hovde Group
$21 $25
12/20/21	Initiated	Outperform	X
FBP First Bancorp Hovde Group
$17
6/28/24	Initiated	Market Perform	X
FCBC First Comm Banc Hovde Group
$38
8/10/18	Initiated	Outperform	X
FCBP First Comm Banc Hovde Group
$31
4/24/25	Reiterated	Outperform	X
FCCO First Community Hovde Group
$28 $29
1/23/25	Reiterated	Outperform	X
FCCO First Community Hovde Group
$28 $29
3/5/21	Initiated	Outperform	X
FDUS Fidus Investment Hovde Group
$17
7/21/25	Reiterated	Market Perform	X
FFIN First Financial Bankshares Hovde Group
$38 $39
4/21/25	Reiterated	Market Perform	X
FFIN First Financial Bankshares Hovde Group
$40 $38
10/21/24	Reiterated	Market Perform	X
FFIN First Financial Bankshares Hovde Group
$34.50 $40
6/29/18	Upgrades	Mkt Perform Outperform	X
FHN First Horizon Hovde Group
$21
10/31/22	Downgrades	Outperform Mkt Perform	X
FISI Financial Inst. Hovde Group
$33 $29
6/26/24	Resumed	Outperform	X
FMBH First Mid-Illinois Bancshares Hovde Group
$34.50 $35
5/6/19	Initiated	Market Perform	X
FMBH First Mid-Illinois Bancshares Hovde Group
$39
1/13/25	Resumed	Outperform	X
FNWB First Northwest Bancorp Hovde Group
$13.50
12/20/21	Initiated	Outperform	X
FNWB First Northwest Bancorp Hovde Group
$23
3/17/25	Downgrades	Outperform Mkt Perform	X
FNWD Finward Bancorp Hovde Group
9/6/24	Resumed	Outperform	X
FNWD Finward Bancorp Hovde Group
$31
4/27/23	Downgrades	Outperform Mkt Perform	X
FNWD Finward Bancorp Hovde Group
$30
4/24/25	Reiterated	Outperform	X
FRBA First Bank Hovde Group
$17 $17.50
5/6/19	Initiated	Outperform	X
FRBA First Bank Hovde Group
$13
1/31/25	Upgrades	Mkt Perform Outperform	X
FRME First Merchants Hovde Group
$50
8/12/24	Resumed	Market Perform	X
FRME First Merchants Hovde Group
$35 $38
12/13/21	Upgrades	Mkt Perform Outperform	X
FRME First Merchants Hovde Group
$47
5/22/19	Initiated	Market Perform	X
FRME First Merchants Hovde Group
$39
4/9/19	Reiterated	Market Perform	X
FSB Franklin Financial Network Hovde Group
$33 $30
5/6/25	Upgrades	Mkt Perform Outperform	X
FSFG First Savings Finl Hovde Group
$34
9/11/24	Resumed	Market Perform	X
FSFG First Savings Finl Hovde Group
$17.50 $24
5/18/22	Initiated	Outperform	X
FSFG First Savings Finl Hovde Group
$30
2/28/24	Downgrades	Outperform Mkt Perform	X
FSK FS KKR Capital Hovde Group
$20
3/5/21	Initiated	Outperform	X
FSK FS KKR Capital Hovde Group
$23
1/27/25	Reiterated	Market Perform	X
FULT Fulton Fincl Hovde Group
$22 $22.50
2/11/25	Downgrades	Outperform Mkt Perform	X
FXNC First National Hovde Group
$28.50
10/8/24	Initiated	Outperform	X
FXNC First National Hovde Group
$22
10/30/24	Upgrades	Mkt Perform Outperform	X
GABC German American Bancorp Hovde Group
$41 $48
5/31/24	Reiterated	Market Perform	X
GABC German American Bancorp Hovde Group
$33 $34
8/5/19	Downgrades	Outperform Mkt Perform	X
GABC German American Bancorp Hovde Group
$34
1/2/19	Upgrades	Mkt Perform Outperform	X
GABC German American Bancorp Hovde Group
$31
4/24/25	Reiterated	Market Perform	X
HBCP Home Bancorp Hovde Group
$48.50 $51.50
11/12/24	Downgrades	Outperform Mkt Perform	X
HBCP Home Bancorp Hovde Group
$53 $54.50
10/21/24	Reiterated	Outperform	X
HBCP Home Bancorp Hovde Group
$48.50 $53
7/19/24	Reiterated	Outperform	X
HBCP Home Bancorp Hovde Group
$45 $48.50
7/8/22	Initiated	Outperform	X
HBCP Home Bancorp Hovde Group
$46
9/30/24	Initiated	Outperform	X
HBNC Horizon Bancorp Hovde Group
$18
5/6/25	Upgrades	Mkt Perform Outperform	X
HBT HBT Financial Hovde Group
$28
3/27/25	Initiated	Market Perform	X
HBT HBT Financial Hovde Group
$24.50
1/17/25	Reiterated	Outperform	X
HOMB Home Bancshares Hovde Group
$36 $35
7/31/24	Initiated	Outperform	X
HTBI HomeTrust Bank Hovde Group
$42
7/16/25	Reiterated	Outperform	X
HWC Hancock Whitney Hovde Group
$65 $72
7/17/24	Reiterated	Outperform	X
HWC Hancock Whitney Hovde Group
$55 $62
1/18/19	Reiterated	Outperform	X
HWC Hancock Whitney Hovde Group
$45 $48
3/4/24	Resumed	Market Perform	X
IBCP Independent Bank Hovde Group
11/16/18	Upgrades	Mkt Perform Outperform	X
IBKC IberiaBank Hovde Group
$82 $86
4/24/24	Reiterated	Market Perform	X
IBTX Independent Bank Group Hovde Group
$53 $46
10/26/22	Downgrades	Outperform Mkt Perform	X
IBTX Independent Bank Group Hovde Group
$82.50 $70
1/25/21	Upgrades	Mkt Perform Outperform	X
ICBK County Bancorp Hovde Group
$23 $25
2/15/19	Downgrades	Outperform Mkt Perform	X
ICBK County Bancorp Hovde Group
$22 $20
8/29/18	Upgrades	Mkt Perform Outperform	X
ICBK County Bancorp Hovde Group
$28
7/28/25	Reiterated	Outperform	X
INBK First Internet Bancorp Hovde Group
$32 $29
4/25/25	Reiterated	Outperform	X
INBK First Internet Bancorp Hovde Group
$39 $28
7/26/24	Reiterated	Outperform	X
INBK First Internet Bancorp Hovde Group
$38 $44
4/26/24	Reiterated	Outperform	X
INBK First Internet Bancorp Hovde Group
$38.50 $38
1/28/19	Downgrades	Outperform Mkt Perform	X
INBK First Internet Bancorp Hovde Group
$22
4/23/24	Reiterated	Outperform	X
ISTR Investar Hovde Group
$20.50 $20
12/20/24	Initiated	Market Perform	X
LCNB LCNB Hovde Group
$16.25
5/6/25	Upgrades	Mkt Perform Outperform	X
LKFN Lakeland Financial Hovde Group
$72
3/21/25	Initiated	Market Perform	X
LKFN Lakeland Financial Hovde Group
$66
4/1/25	Initiated	Outperform	X
LNKB LINKBANCORP Hovde Group
$8.50
6/30/23	Upgrades	Mkt Perform Outperform	X
MAIN Main Street Capital Hovde Group
$45
3/7/22	Initiated	Market Perform	X
MAIN Main Street Capital Hovde Group
$44
1/27/25	Reiterated	Market Perform	X
MBCN Middlefield Banc Hovde Group
$28 $25
5/1/24	Reiterated	Market Perform	X
MBCN Middlefield Banc Hovde Group
$25 $23
4/1/24	Resumed	Market Perform	X
MBCN Middlefield Banc Hovde Group
$25
9/10/18	Initiated	Outperform	X
MBTF MBT Financial Hovde Group
$12
1/22/25	Upgrades	Mkt Perform Outperform	X
MBWM Mercantile Bank Hovde Group
$54
3/4/24	Downgrades	Outperform Mkt Perform	X
MBWM Mercantile Bank Hovde Group
7/28/22	Upgrades	Mkt Perform Outperform	X
MBWM Mercantile Bank Hovde Group
$41
6/16/25	Reiterated	Outperform	X
MCB Metropolitan Bank Hovde Group
$75 $79
1/27/25	Reiterated	Outperform	X
MCB Metropolitan Bank Hovde Group
$75 $83.50
10/21/24	Reiterated	Outperform	X
MCB Metropolitan Bank Hovde Group
$65.50 $68
9/19/24	Resumed	Outperform	X
MCB Metropolitan Bank Hovde Group
$50 $65.50
9/27/23	Initiated	Outperform	X
MCB Metropolitan Bank Hovde Group
$50
1/27/25	Reiterated	Market Perform	X
MOFG MidWestOne Financial Group Hovde Group
$30 $33.50
4/26/24	Reiterated	Market Perform	X
MOFG MidWestOne Financial Group Hovde Group
$23.50 $21.50
3/4/24	Resumed	Market Perform	X
MOFG MidWestOne Financial Group Hovde Group
6/12/23	Initiated	Outperform	X
MOFG MidWestOne Financial Group Hovde Group
1/31/18	Downgrades	Outperform Mkt Perform	X
MSL Midsouth Bancorp Hovde Group
$15
7/14/25	Upgrades	Mkt Perform Outperform	X
MVBF MVB Financial Hovde Group
$28
5/15/24	Downgrades	Outperform Mkt Perform	X
MVBF MVB Financial Hovde Group
$21
5/8/24	Reiterated	Outperform	X
MVBF MVB Financial Hovde Group
$27 $23
3/8/19	Initiated	Outperform	X
MVBF MVB Financial Hovde Group
$18.50
8/28/24	Reiterated	Outperform	X
MYFW First Western Hovde Group
$21 $23.50
2/28/24	Upgrades	Mkt Perform Outperform	X
MYFW First Western Hovde Group
$20.50 $19
1/4/23	Downgrades	Outperform Mkt Perform	X
MYFW First Western Hovde Group
$30
7/24/25	Reiterated	Market Perform	X
NBHC National Bank Hovde Group
$39 $42
4/24/25	Reiterated	Market Perform	X
NBHC National Bank Hovde Group
$43 $39
11/18/24	Downgrades	Outperform Mkt Perform	X
NBHC National Bank Hovde Group
$55
10/28/24	Reiterated	Outperform	X
NBHC National Bank Hovde Group
$50 $51
7/26/24	Reiterated	Outperform	X
NBHC National Bank Hovde Group
$42 $50
4/29/24	Reiterated	Outperform	X
NBHC National Bank Hovde Group
$45 $40.50
3/21/25	Initiated	Market Perform	X
NBTB NBT Bancorp Hovde Group
$50
4/24/18	Initiated	Market Perform	X
NCBS Nicolet Bankshares Hovde Group
$62
3/4/24	Upgrades	Mkt Perform Outperform	X
NIC Nicolet Bankshares Hovde Group
3/5/21	Initiated	Market Perform	X
NMFC New Mountain Finance Hovde Group
$13.50
12/20/24	Initiated	Outperform	X
NRIM Northrim Bank Hovde Group
$96.50
5/10/24	Reiterated	Outperform	X
OBDC Blue Owl Capital Hovde Group
$16 $17
1/27/25	Reiterated	Outperform	X
OCFC OceanFirst Finl Hovde Group
$23 $22
9/20/24	Reiterated	Outperform	X
OCFC OceanFirst Finl Hovde Group
$19.50 $21.50
8/4/23	Downgrades	Outperform Mkt Perform	X
OCSL Oaktree Specialty Lending Corp Hovde Group
$21
3/5/21	Initiated	Outperform	X
OCSL Oaktree Specialty Lending Corp Hovde Group
$7.25
4/24/25	Reiterated	Outperform	X
OFG OFG Bancorp Hovde Group
$53.50 $50
7/22/24	Reiterated	Outperform	X
OFG OFG Bancorp Hovde Group
$44 $51
12/20/21	Initiated	Outperform	X
OFG OFG Bancorp Hovde Group
$32
5/3/18	Initiated	Outperform	X
OLBK Old Line Bancshares Hovde Group
$39
6/3/24	Resumed	Outperform	X
ONB Old National Bancorp Hovde Group
$20
8/9/19	Upgrades	Mkt Perform Outperform	X
OPB Opus Bank Hovde Group
$21.50 $24
5/6/22	Upgrades	Mkt Perform Outperform	X
ORCC Owl Rock Capital Hovde Group
$15
3/7/22	Initiated	Market Perform	X
ORCC Owl Rock Capital Hovde Group
5/14/25	Reiterated	Outperform	X
ORRF Orrstown Financial Services Hovde Group
$35 $37
4/30/25	Upgrades	Mkt Perform Outperform	X
ORRF Orrstown Financial Services Hovde Group
$35
11/13/24	Downgrades	Outperform Mkt Perform	X
ORRF Orrstown Financial Services Hovde Group
10/23/24	Reiterated	Outperform	X
ORRF Orrstown Financial Services Hovde Group
$37 $42
7/24/24	Reiterated	Outperform	X
ORRF Orrstown Financial Services Hovde Group
$33 $37
4/24/24	Reiterated	Outperform	X
ORRF Orrstown Financial Services Hovde Group
$34 $33
7/24/25	Reiterated	Outperform	X
PB Prosperity Bancshares Hovde Group
$85 $83
4/25/25	Reiterated	Outperform	X
PB Prosperity Bancshares Hovde Group
$90 $80
9/18/23	Upgrades	Mkt Perform Outperform	X
PB Prosperity Bancshares Hovde Group
$66.50
3/1/19	Downgrades	Outperform Mkt Perform	X
PB Prosperity Bancshares Hovde Group
$79
1/2/19	Upgrades	Mkt Perform Outperform	X
PB Prosperity Bancshares Hovde Group
$70
7/9/18	Upgrades	Underperform Mkt Perform	X
PB Prosperity Bancshares Hovde Group
$70
4/1/24	Resumed	Market Perform	X
PEBO Peoples Bancorp Hovde Group
$31
10/26/22	Downgrades	Outperform Mkt Perform	X
PEBO Peoples Bancorp Hovde Group
$34 $30
3/31/21	Upgrades	Mkt Perform Outperform	X
PEBO Peoples Bancorp Hovde Group
$34 $40
4/1/24	Upgrades	Mkt Perform Outperform	X
PFC Premier Financial Hovde Group
$22.50
11/21/23	Initiated	Market Perform	X
PFC Premier Financial Hovde Group
$23
11/11/24	Reiterated	Market Perform	X
PFIS Peoples Financial Services Hovde Group
$48 $53
7/25/25	Reiterated	Outperform	X
PFS Provident Finl Hovde Group
$22.50 $23.50
12/13/24	Initiated	Outperform	X
PFS Provident Finl Hovde Group
$25
4/7/21	Downgrades	Outperform Mkt Perform	X
PGC Peapack-Gladstone Financial Hovde Group
4/16/25	Upgrades	Mkt Perform Outperform	X
PNFP Pinnacle Finl Hovde Group
$111
11/18/24	Downgrades	Outperform Mkt Perform	X
PNFP Pinnacle Finl Hovde Group
$135
9/27/24	Reiterated	Outperform	X
PNFP Pinnacle Finl Hovde Group
$110 $114
4/23/24	Reiterated	Outperform	X
PNFP Pinnacle Finl Hovde Group
$104 $99
7/5/18	Reiterated	Outperform	X
PNFP Pinnacle Finl Hovde Group
6/8/18	Reiterated	Outperform	X
PNFP Pinnacle Finl Hovde Group
$72 $75
4/18/18	Upgrades	Mkt Perform Outperform	X
PNFP Pinnacle Finl Hovde Group
$72
2/1/21	Downgrades	Outperform Mkt Perform	X
PROV Provident Fincl Hovde Group
$17
3/20/19	Upgrades	Mkt Perform Outperform	X
PROV Provident Fincl Hovde Group
$19 $23
7/15/24	Resumed	Market Perform	X
RBB RBB Bancorp Hovde Group
$20
4/24/24	Reiterated	Market Perform	X
RBB RBB Bancorp Hovde Group
$19 $20
4/22/24	Resumed	Market Perform	X
RBB RBB Bancorp Hovde Group
$19
2/26/21	Initiated	Outperform	X
RBB RBB Bancorp Hovde Group
$25
4/25/25	Reiterated	Market Perform	X
RBCAA Republic Bancorp Hovde Group
$64 $69
1/27/25	Reiterated	Market Perform	X
RBCAA Republic Bancorp Hovde Group
$72 $70
11/13/24	Downgrades	Outperform Mkt Perform	X
RBCAA Republic Bancorp Hovde Group
$78 $80
10/18/24	Reiterated	Outperform	X
RBCAA Republic Bancorp Hovde Group
$68 $78
3/4/24	Resumed	Outperform	X
RBCAA Republic Bancorp Hovde Group
12/8/21	Downgrades	Outperform Mkt Perform	X
RBCAA Republic Bancorp Hovde Group
2/8/21	Upgrades	Mkt Perform Outperform	X
RBCAA Republic Bancorp Hovde Group
$38 $46
1/29/19	Reiterated	Market Perform	X
RBCAA Republic Bancorp Hovde Group
$41 $44.50
7/23/25	Reiterated	Market Perform	X
RNST Renasant Hovde Group
$35 $39
11/13/24	Downgrades	Outperform Mkt Perform	X
RNST Renasant Hovde Group
8/5/24	Upgrades	Mkt Perform Outperform	X
RNST Renasant Hovde Group
$38 $39
7/25/24	Downgrades	Outperform Mkt Perform	X
RNST Renasant Hovde Group
$36 $38
6/21/22	Upgrades	Mkt Perform Outperform	X
RNST Renasant Hovde Group
$34
1/28/19	Reiterated	Market Perform	X
RNST Renasant Hovde Group
$34 $38
10/11/23	Downgrades	Outperform Mkt Perform	X
SAR Saratoga Investment Hovde Group
$27
3/5/21	Initiated	Outperform	X
SAR Saratoga Investment Hovde Group
$29
9/21/18	Upgrades	Mkt Perform Outperform	X
SBBX Sussex Bancorp Hovde Group
$33 $30
3/5/18	Downgrades	Outperform Mkt Perform	X
SBBX Sussex Bancorp Hovde Group
$33
6/4/25	Reiterated	Market Perform	X
SBCF Seacoast Banking Hovde Group
$27 $29
7/29/24	Downgrades	Outperform Mkt Perform	X
SBCF Seacoast Banking Hovde Group
$29 $31
4/29/24	Reiterated	Outperform	X
SBCF Seacoast Banking Hovde Group
$31 $29
3/17/23	Upgrades	Mkt Perform Outperform	X
SBCF Seacoast Banking Hovde Group
$33
3/4/19	Downgrades	Mkt Perform Underperform	X
SBCF Seacoast Banking Hovde Group
$28 $27.50
1/2/19	Downgrades	Outperform Mkt Perform	X
SBCF Seacoast Banking Hovde Group
6/15/18	Reiterated	Outperform	X
SBCF Seacoast Banking Hovde Group
$29 $36
2/7/18	Upgrades	Mkt Perform Outperform	X
SBCF Seacoast Banking Hovde Group
$30 $29
1/25/21	Upgrades	Mkt Perform Outperform	X
SBNY Signature Bank Hovde Group
$125 $195
1/2/19	Downgrades	Outperform Mkt Perform	X
SBNY Signature Bank Hovde Group
8/8/18	Upgrades	Mkt Perform Outperform	X
SBNY Signature Bank Hovde Group
$144 $133
7/29/24	Reiterated	Market Perform	X
SBSI Southside Banc Hovde Group
$31 $37
5/9/24	Reiterated	Market Perform	X
SBSI Southside Banc Hovde Group
$35 $31
7/26/21	Reiterated	Market Perform	X
SBSI Southside Banc Hovde Group
$42 $39
1/29/21	Initiated	Outperform	X
SBT Sterling Bancorp, Inc. Hovde Group
$6
10/22/24	Reiterated	Market Perform	X
SFBS ServisFirst Bancshares Hovde Group
$80 $91
7/16/24	Reiterated	Market Perform	X
SFBS ServisFirst Bancshares Hovde Group
$68 $76
4/7/21	Downgrades	Outperform Mkt Perform	X
SFBS ServisFirst Bancshares Hovde Group
7/23/25	Reiterated	Market Perform	X
SMBK SmartFinancial Hovde Group
$37.50 $40
10/23/24	Reiterated	Market Perform	X
SMBK SmartFinancial Hovde Group
$28 $32.50
7/24/24	Reiterated	Market Perform	X
SMBK SmartFinancial Hovde Group
$24 $28
4/24/24	Reiterated	Market Perform	X
SMBK SmartFinancial Hovde Group
$26 $23
1/4/23	Downgrades	Outperform Mkt Perform	X
SMBK SmartFinancial Hovde Group
$31
6/29/18	Reiterated	Outperform	X
SMBK SmartFinancial Hovde Group
$27 $29
1/27/25	Reiterated	Outperform	X
SPFI South Plains Financial Hovde Group
$46 $47
10/25/24	Reiterated	Outperform	X
SPFI South Plains Financial Hovde Group
$36 $41
7/19/24	Reiterated	Outperform	X
SPFI South Plains Financial Hovde Group
$32 $36
4/26/24	Reiterated	Outperform	X
SPFI South Plains Financial Hovde Group
$34 $32
7/14/23	Initiated	Outperform	X
SPFI South Plains Financial Hovde Group
$28
7/25/25	Reiterated	Market Perform	X
SSB South State Hovde Group
$97 $105
11/13/24	Downgrades	Outperform Mkt Perform	X
SSB South State Hovde Group
7/29/24	Reiterated	Outperform	X
SSB South State Hovde Group
$97 $112
10/22/24	Reiterated	Outperform	X
SSBK Southern States Bancshares Hovde Group
$36 $35
9/9/24	Initiated	Outperform	X
SSBK Southern States Bancshares Hovde Group
6/27/25	Initiated	Market Perform	X
STBA S&T Bancorp Hovde Group
$41
1/22/21	Upgrades	Mkt Perform Outperform	X
STL Sterling Bancorp Hovde Group
$18 $24
10/25/18	Reiterated	Outperform	X
STL Sterling Bancorp Hovde Group
$30 $22
10/24/24	Downgrades	Outperform Mkt Perform	X
SYBT Stock Yards Bancorp Hovde Group
$67 $68
7/24/24	Reiterated	Outperform	X
SYBT Stock Yards Bancorp Hovde Group
$53 $68
3/4/24	Resumed	Outperform	X
SYBT Stock Yards Bancorp Hovde Group
5/18/22	Initiated	Market Perform	X
SYBT Stock Yards Bancorp Hovde Group
7/18/25	Reiterated	Market Perform	X
TCBI Texas Capital Hovde Group
$75 $95
4/21/25	Reiterated	Market Perform	X
TCBI Texas Capital Hovde Group
$84 $75
3/7/25	Reiterated	Market Perform	X
TCBI Texas Capital Hovde Group
$90 $84
10/18/24	Reiterated	Market Perform	X
TCBI Texas Capital Hovde Group
$73 $79
9/23/24	Reiterated	Market Perform	X
TCBI Texas Capital Hovde Group
$66 $73
4/19/24	Reiterated	Market Perform	X
TCBI Texas Capital Hovde Group
$87.50 $61.50
4/5/21	Upgrades	Mkt Perform Outperform	X
TCBI Texas Capital Hovde Group
$73.50 $82.50
7/24/25	Reiterated	Outperform	X
TOWN Towne Bank Hovde Group
$39 $41
4/4/25	Upgrades	Mkt Perform Outperform	X
TOWN Towne Bank Hovde Group
$39 $38
8/11/23	Initiated	Market Perform	X
TOWN Towne Bank Hovde Group
$27
7/24/25	Reiterated	Market Perform	X
TRMK Trustmark Hovde Group
$37 $41
10/29/24	Reiterated	Market Perform	X
TRMK Trustmark Hovde Group
$34 $37
1/30/25	Upgrades	Mkt Perform Outperform	X
VBTX Veritex Holdings Hovde Group
$31.50
7/5/23	Downgrades	Outperform Mkt Perform	X
VBTX Veritex Holdings Hovde Group
$20.50
9/5/23	Upgrades	Mkt Perform Outperform	X
VLY Valley National Hovde Group
$11.50
8/1/23	Downgrades	Outperform Mkt Perform	X
VLY Valley National Hovde Group
$11
4/7/21	Downgrades	Outperform Mkt Perform	X
VLY Valley National Hovde Group
4/22/24	Resumed	Outperform	X
WAL Western Alliance Bancorp Hovde Group
$75
3/23/23	Initiated	Outperform	X
WAL Western Alliance Bancorp Hovde Group
10/25/23	Downgrades	Outperform Mkt Perform	X
WNEB Western New England Bancorp Hovde Group
$7.50
4/12/21	Initiated	Market Perform	X
WNEB Western New England Bancorp Hovde Group
$8.50
7/29/24	Reiterated	Outperform	X
WSBC WesBanco Inc Hovde Group
$34 $38
4/24/24	Reiterated	Outperform	X
WSBC WesBanco Inc Hovde Group
$36 $34
9/13/23	Upgrades	Mkt Perform Outperform	X
WSBC WesBanco Inc Hovde Group
6/17/19	Initiated	Outperform	X
WSBC WesBanco Inc Hovde Group
$42
4/23/25	Reiterated	Market Perform	X
WTFC Wintrust Fin Hovde Group
$107 $115
6/21/24	Resumed	Market Perform	X
WTFC Wintrust Fin Hovde Group
$100
2/1/23	Upgrades	Mkt Perform Outperform	X
WTFC Wintrust Fin Hovde Group
$108
2/8/18	Reiterated	Market Perform	X
WTFC Wintrust Fin Hovde Group
$85 $90
5/22/23	Initiated	Outperform	X
ZION Zions Bancorp Hovde Group
$40