Regional lender Commerce Bank has hired a PrivateBank executive to be the leader of its St. Louis operations, which includes the Nashville region. Robert Holmes also will handle some vice chairman duties for Kansas City-based Commerce, which has about $24 billion in assets.
Shares of Franklin Financial Network didn't rise or fall much Thursday on their first day of trading on the New York Stock Exchange. After ticking up a bit from their $21 IPO price in the first 15 minutes of action, the stock (Ticker: FSB) dipped to $20.75 before working its way back up. Interestingly, the $21 level served as a hard cap for traders, who consistently stopped bidding up the stock right at $20.99. Heading into the last half hour of trading, more than 870,000 shares had changed hands.
CEO Richard Herrington outside the New York Stock Exchange this morning. (Photo: NYSE Twitter)
Shares of Pinnacle Financial Partners hit a record high $45.29 on Friday — they ended the day 10 cents below that peak — but Keefe Bruyette & Woods analyst Jefferson Harralson sees them climbing a bit more. He has raised his target for the largest bank based in Nashville (Ticker: PNFP) to $48 from $40 and continues to rate it at 'outperform.'
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