Analysts at Wunderlich Securities have started covering the shares of newly public local bank holding company Franklin Financial Network and Avenue Financial Holdings. The firm has given Franklin Financial a 'buy' rating and price target of $28 — up from the stock's current level (Ticker: FSB) of about $22 — but stopped at 'hold' for Avenue. The latter (Ticker: AVNU) is seen climbing to $13.50 from the $11.55 at which it closed last Friday.
The Harpeth Capital division that helps private equity and venture capital funds raise money recently put a bow on its work with San Francisco-based Leerink Revelation Partners. The latter had sought $175 million for a vehicle to invest in privately held health care companies. Harpeth's work helped it raise $192 million.
Cool Springs money manager Dave Crouch has recruited financial executive and former Williamson County Schools board member Cherie Hammond to help him build Aspen Grove Asset Management, the eight-year-old firm that manages about $65 million. Hammond, who is married to media entrepreneur Dan Hammond, also challenged Glen Casada in last year's election for the state House District 63 seat.
As an alternative to product-based financial advisors, Crouch has built the firm’s reputation on intensive management of personally selected individual securities portfolios. Although Hammond will focus on business development in the short term, she plans to earn her Series 7 and Series 66 licenses and become an Investment Advisor Representative within the year.
C&H Financial Services, an Illinois-based payment processor, has acquired Regal Payment Systems out of Columbia. A release on the deal doesn't provide many details but does make Regal's operation C&H's first in Tennessee and adds the First Data processing platform to its lineup. The purchase of Regal also puts C&H on track to process $5 billion in transactions this year.
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