Andrew Stapp at Hilliard Lyons liked the look of Pinnacle Financial Partners' fourth-quarter numbers. He has hiked his rating on the shares of Nashville's biggest bank to 'buy' from 'long-term buy.' Pinnacle (Ticker: PNFP) ended last week at $37.80 and is up about 5 percent over the past three months.
Over at Piper Jaffray, Kevin Ellich has upgraded AmSurg to 'overweight' from 'neutral,' saying the company now trades at a better valuation. Ellich also raised his target for the Nashville-based company to $65 from $54. AmSurg (Ticker: AMSG) shares finished Friday trading at $55.31 and have climbed about 10 percent over the past three months.
Royal Bank of Canada has struck a deal to pay $5.4 billion for Los Angeles-based City National Bank, which specializes in working with high-net-worth individuals, including many in the music and entertainment sectors. City National's Music Square East branch, which opened its doors in mid-2011, was home to $128 million in deposits last summer.
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