Analysts Offer Insights on Financial Companies: Cellular Biomedicine Group (NASDAQ: CBMG) and First NBC Bank (NASDAQ: FNBC)

By Austin Angelo

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Cellular Biomedicine Group (NASDAQ: CBMG) and First NBC Bank (NASDAQ: FNBC).

Cellular Biomedicine Group (NASDAQ: CBMG)

Maxim Group analyst Gabrielle Zhou reiterated a Buy rating on Cellular Biomedicine Group (NASDAQ: CBMG) today and set a price target of $18. The company’s shares opened today at $11.70, close to its 52-week low of $10.05.

Zhou said:

“Summary Cellular Biomedicine Group announced year end 2016 results. The company spent $29M in expenses and ended the year with just under $40M in cash on the balance sheet.”

According to TipRanks.com, Zhou is a 3-star analyst with an average return of 2.8% and a 41.4% success rate. Zhou covers the Healthcare sector, focusing on stocks such as ContraVir Pharmaceuticals Inc, Sciclone Pharmaceuticals, and Mateon Therapeutics Inc.

Cellular Biomedicine Group has an analyst consensus of Moderate Buy.

First NBC Bank (NASDAQ: FNBC)

In a report released today, Christopher Nolan from FBR Capital reiterated a Hold rating on First NBC Bank (NASDAQ: FNBC), with a price target of $3.50. The company’s shares opened today at $4.45, close to its 52-week low of $3.30.

Nolan noted:

“After the market closed on 3/13/17, FNBC released an 8-K. It indicated (1) the completion of a previously announced sale of assets and funding to Hancock Holdings and (2) a regulatory directive from the FDIC determining that as of 2/24/17, FNBC’s bank was “significantly undercapitalized.” This directive orders FNBC to immediately either raise bank-level capital to meet the FDIC definition for “adequately capitalized,” merge with another institution, or face further regulatory action. Since the closing of the asset sale post dates this FDIC directive, we believe the asset sale addresses the capital shortfall issues highlighted in the directive. However, we continue to believe FNBC needs to raise an estimated $250M in bank- level Tier 1 capital to comply with an earlier FDIC regulatory consent order (see our 3/9/17 note “Approaching its Recapitalization Crucible: Maintain MP Rating”). We are lowering our price target to $3.50/share to reflect our new estimate of FNBC’s value in a distressed sale.”

According to TipRanks.com, Nolan is a 4-star analyst with an average return of 6.8% and a 62.2% success rate. Nolan covers the Financial sector, focusing on stocks such as Pennantpark Investment Corp, Atlantic Capital Bancshares, and Raymond James Financial.

First NBC Bank has an analyst consensus of Hold, with a price target consensus of $11.

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