Shares Of State Bank Financial Rally In The #PreMarket

Following the release of a note on July 3 by Wunderlich Securities, shares of State Bank Financial (NASDAQ: STBZ) have rallied up over nine percent in the pre-market session.

In the note, analyst Kevin Reynolds initiated coverage of State Bank with a Buy rating and $23 price target.

To summarize his view Reynolds wrote, "State Bank is emerging as a high-growth community bank with a well respected and very deep management team that should create meaningful shareholder value over the next several years by executing a market-share moving strategy complemented by accretive acquisitions."

Moving forward, Reynolds is looking for the company to achieve growth both organically, through market share gains in commercial oriented loans in Georgia's major markets and with the acquisition of failed Georgia banks.

As an end result, Reynolds says the logical outcome is that Evans will seek an acquisition of State Bank at a premium price in the coming years. He is basing this off Evans previous record in which he recently sold off both FLAG Financial and Century South Banks at 4.2x and 3.0x TBV, respectively.