Analyst Ratings Published by Janney

11/19/24	Initiated	Buy	X
ACNB ACNB Corporation Janney
$53
12/14/23	Initiated	Buy	X
AFG American Fincl Janney
$135
6/6/24	Initiated	Buy	X
AGNC AGNC Investment Janney
$10.50
3/8/24	Downgrades	Neutral Sell	X
AGR AVANGRID Janney
$35
2/25/21	Upgrades	Neutral Buy	X
AGR AVANGRID Janney
$45 $55
4/25/19	Downgrades	Neutral Sell	X
AGR AVANGRID Janney
$50 $46
4/12/19	Resumed	Buy	X
AGRX Agile Therapeutics Janney
$4
12/4/18	Initiated	Buy	X
AINC Ashford Janney
$87
1/7/21	Initiated	Buy	X
AIRC Apartment Income REIT Corp. Janney
$40
9/13/18	Initiated	Buy	X
ALDX Aldeyra Therapeutics Janney
12/12/23	Initiated	Buy	X
ALEX Alexander & Baldwin Janney
$20
6/29/18	Upgrades	Neutral Buy	X
ALLY Ally Financial Janney
6/15/18	Downgrades	Buy Neutral	X
AMAG AMAG Pharma Janney
2/15/18	Upgrades	Neutral Buy	X
AMAG AMAG Pharma Janney
2/24/23	Initiated	Neutral	X
AMSF Amerisafe Janney
$58
7/26/24	Downgrades	Buy Neutral	X
AMTB Amerant Bancorp Janney
$25
6/18/24	Resumed	Buy	X
AMTB Amerant Bancorp Janney
$25
5/3/21	Upgrades	Neutral Buy	X
AMTB Mercantil Bank Janney
1/2/25	Initiated	Buy	X
AOMR Angel Oak Mortgage REIT Janney
$13
9/5/24	Initiated	Neutral	X
AQN Algonquin Power & Utilities Janney
6/6/24	Initiated	Neutral	X
ARR ARMOUR Residential REIT Janney
$20
6/28/23	Initiated	Buy	X
ARRY Array Tech Janney
$37
10/25/21	Initiated	Buy	X
ARTNA Artesian Resources Janney
11/12/24	Upgrades	Neutral Buy	X
AVBH Avidbank Holdings Janney
$26
7/12/24	Initiated	Neutral	X
AVBH Avidbank Holdings Janney
$21
4/5/19	Initiated	Buy	X
AVRO AVROBIO Janney
6/14/19	Initiated	Buy	X
AVTR Avantor Janney
$27
6/18/19	Initiated	Buy	X
AVXL Anavex Janney
6/24/22	Upgrades	Neutral Buy	X
AWK American Water Works Janney
3/4/21	Upgrades	Neutral Buy	X
AWK American Water Works Janney
$159
4/16/18	Upgrades	Neutral Buy	X
AWK American Water Works Janney
4/30/21	Upgrades	Neutral Buy	X
AX Axos Financial Janney
$54
3/22/21	Downgrades	Buy Neutral	X
AX Axos Financial Janney
1/15/21	Initiated	Buy	X
AX Axos Financial Janney
$48
2/11/21	Upgrades	Neutral Buy	X
BANC Banc of California Janney
$22
7/19/24	Downgrades	Buy Neutral	X
BANR Banner Janney
6/28/22	Upgrades	Neutral Buy	X
BANR Banner Janney
$68
1/25/21	Downgrades	Buy Neutral	X
BANR Banner Janney
$55
8/30/23	Initiated	Buy	X
BCBP BCB Bancorp Janney
12/11/18	Initiated	Buy	X
BCSF Bain Capital Specialty Finance Janney
1/31/19	Resumed	Buy	X
BDSI BioDelivery Sciences Janney
$5
7/22/24	Downgrades	Buy Neutral	X
BHLB Berkshire Hills Bancorp Janney
$28
11/5/18	Upgrades	Neutral Buy	X
BLUE Bluebirdbio Janney
3/14/18	Initiated	Neutral	X
BLUE Bluebirdbio Janney
3/2/23	Upgrades	Neutral Buy	X
BMRC Bank of Marin Janney
6/15/22	Initiated	Neutral	X
BPRN Bank of Princeton Janney
$31
5/15/24	Downgrades	Buy Neutral	X
BSRR Sierra Bancorp Janney
4/23/24	Upgrades	Neutral Buy	X
BSRR Sierra Bancorp Janney
$23
1/25/22	Downgrades	Buy Neutral	X
BSRR Sierra Bancorp Janney
6/27/24	Initiated	Buy	X
BWXT BWX Technologies Janney
$113
11/11/22	Upgrades	Neutral Buy	X
BXSL Blackstone Secured Lending Fund Janney
$26 $27
5/17/22	Upgrades	Neutral Buy	X
BY Byline Bancorp Janney
11/17/22	Downgrades	Buy Neutral	X
CADE Cadence Bank Janney
$29 $30
12/9/21	Upgrades	Neutral Buy	X
CADE Cadence Bank Janney
$35
2/12/18	Upgrades	Neutral Buy	X
CARA Cara Therapeutics Janney
2/16/23	Downgrades	Buy Neutral	X
CATC Cambridge Bancorp Janney
$87
10/13/21	Initiated	Buy	X
CATC Cambridge Bancorp Janney
2/15/23	Downgrades	Buy Neutral	X
CBAN Colony Bankcorp Janney
$14
12/8/23	Initiated	Neutral	X
CBFV CB Financial Service Janney
$25
9/15/22	Initiated	Buy	X
CBNK Capital Bancorp Janney
3/14/23	Initiated	Buy	X
CBU Community Bank Janney
$66
1/24/24	Upgrades	Neutral Buy	X
CCBG Capital City Bank Janney
$37.50
10/12/18	Downgrades	Buy Neutral	X
CCLP CSI Compressco LP Janney
6/28/19	Upgrades	Neutral Buy	X
CDMO Avid Bioservices Janney
$10
5/9/19	Downgrades	Buy Neutral	X
CDMO Avid Bioservices Janney
9/10/24	Upgrades	Neutral Buy	X
CFB CrossFirst Bankshares Janney
$21
2/21/24	Initiated	Neutral	X
CFB CrossFirst Bankshares Janney
9/6/22	Initiated	Neutral	X
CHCO City Holding Co Janney
$91
1/13/23	Upgrades	Neutral Buy	X
CHCT Community Healthcare Trust Janney
$44
7/10/19	Downgrades	Buy Neutral	X
CHCT Community Healthcare Trust Janney
8/6/19	Upgrades	Neutral Buy	X
CHMG Chemung Financial Janney
1/2/25	Initiated	Buy	X
CHMI Cherry Hill Mortgage Janney
$4
11/17/23	Downgrades	Buy Neutral	X
CHPT ChargePoint Janney
12/14/23	Initiated	Neutral	X
CINF Cincinnati Fincl Janney
11/30/22	Initiated	Buy	X
CIVB Civista Bancshares Janney
$27
10/11/23	Initiated	Buy	X
CLBK Columbia Financial Janney
$18
1/6/21	Upgrades	Neutral Buy	X
CLDT Chatham Lodging Janney
6/13/19	Upgrades	Neutral Buy	X
CNCE Concert Pharmaceuticals Janney
9/13/18	Initiated	Neutral	X
CNCE Concert Pharmaceuticals Janney
4/12/19	Resumed	Buy	X
COLL Collegium Pharmaceutical Janney
$29
12/17/18	Downgrades	Buy Neutral	X
CPK Chesapeake Utilities Janney
11/2/18	Upgrades	Neutral Buy	X
CPK Chesapeake Utilities Janney
9/24/18	Downgrades	Buy Neutral	X
CPK Chesapeake Utilities Janney
12/20/18	Upgrades	Neutral Buy	X
CPT Camden Property Janney
8/20/18	Upgrades	Neutral Buy	X
CRMT America’s Car-Mart Janney
1/15/25	Upgrades	Neutral Buy	X
CSR Centerspace Janney
$72
12/14/22	Downgrades	Buy Neutral	X
CSR Centerspace Janney
1/24/23	Downgrades	Buy Neutral	X
CSTR CapStar Financial Janney
$19
3/27/24	Initiated	Buy	X
CTBI Community Trust Bancorp Janney
$49
11/3/22	Downgrades	Buy Neutral	X
CURO CURO Group Janney
5/22/24	Downgrades	Buy Neutral	X
CVBF CVB Financial Janney
5/25/23	Upgrades	Neutral Buy	X
CVBF CVB Financial Janney
7/19/19	Downgrades	Buy Neutral	X
CVBF CVB Financial Janney
10/12/23	Upgrades	Neutral Buy	X
CVCY Central Valley Bancorp Janney
$18 $20
11/10/23	Upgrades	Neutral Buy	X
CWBC Community West Bancshares Janney
$15
1/6/22	Initiated	Neutral	X
CWBC Community West Bancshares Janney
8/14/23	Upgrades	Neutral Buy	X
CWCO Consolidated Water Janney
$24 $28
7/6/23	Downgrades	Buy Neutral	X
CWCO Consolidated Water Janney
6/7/23	Upgrades	Neutral Buy	X
CWCO Consolidated Water Janney
$24
5/17/23	Downgrades	Buy Neutral	X
CWCO Consolidated Water Janney
$19
11/16/22	Upgrades	Neutral Buy	X
CWCO Consolidated Water Janney
$20
9/14/22	Downgrades	Buy Neutral	X
CWCO Consolidated Water Janney
7/28/23	Upgrades	Neutral Buy	X
CWT California Water Janney
$66
1/8/21	Downgrades	Buy Neutral	X
CWT California Water Janney
4/30/24	Upgrades	Neutral Buy	X
CZFS Citizens Financial Serv. Janney
$53
6/29/23	Downgrades	Buy Neutral	X
CZFS Citizens Financial Serv. Janney
6/27/23	Initiated	Neutral	X
CZNC Citizens & Northern Corp. Janney
$21
1/15/25	Downgrades	Buy Neutral	X
DEI Douglas Emmett Janney
12/20/18	Upgrades	Neutral Buy	X
DEI Douglas Emmett Janney
7/9/18	Upgrades	Neutral Buy	X
DEPO DepoMed Janney
1/22/21	Initiated	Neutral	X
DHI D.R. Horton Janney
2/25/19	Upgrades	Neutral Buy	X
DHR Danaher Janney
11/12/18	Initiated	Buy	X
DNLI Denali Therapeutics Janney
6/6/24	Initiated	Buy	X
DX Dynex Capital Janney
$13.50
1/30/23	Downgrades	Buy Neutral	X
EBC Eastern Bankshares Janney
$17
10/27/22	Downgrades	Buy Neutral	X
EBMT Eagle Bancorp Montana Janney
3/28/23	Upgrades	Neutral Buy	X
ECPG Encore Capital Janney
2/27/24	Downgrades	Buy Neutral	X
EIG Employers Holdings Janney
2/24/23	Initiated	Buy	X
EIG Employers Holdings Janney
$50
10/23/24	Downgrades	Buy Neutral	X
ENPH Enphase Energy Janney
2/27/23	Upgrades	Neutral Buy	X
ENPH Enphase Energy Janney
$282
2/3/23	Initiated	Neutral	X
ENPH Enphase Energy Janney
$238
3/14/22	Upgrades	Neutral Buy	X
ENVA Enova International Janney
$49
2/11/22	Downgrades	Buy Neutral	X
ENVA Enova International Janney
$46 $48
10/31/24	Downgrades	Buy Neutral	X
ENVX Enovix Janney
11/4/22	Initiated	Buy	X
ENVX Enovix Janney
$23
7/7/22	Upgrades	Neutral Buy	X
EPR EPR Properties Janney
1/14/21	Downgrades	Buy Neutral	X
EPR EPR Properties Janney
6/22/18	Upgrades	Neutral Buy	X
ES Eversource Energy Janney
2/2/18	Downgrades	Buy Neutral	X
ES Eversource Energy Janney
12/14/22	Downgrades	Buy Neutral	X
ESS Essex Property Janney
$241
12/20/18	Upgrades	Neutral Buy	X
ESS Essex Property Janney
10/3/23	Initiated	Buy	X
EWBC East West Banc Janney
$68
2/3/21	Upgrades	Neutral Buy	X
FBIZ First Business Financial Janney
$24
10/18/23	Upgrades	Neutral Buy	X
FBK FB Financial Janney
$34 $35.50
9/13/22	Initiated	Buy	X
FBK FB Financial Janney
10/24/24	Downgrades	Buy Neutral	X
FBMS First Bancshares Janney
11/9/22	Upgrades	Neutral Buy	X
FBMS First Bancshares Janney
$33.50 $39
7/28/22	Downgrades	Buy Neutral	X
FBMS First Bancshares Janney
2/7/25	Downgrades	Buy Neutral	X
FBNC First Bancorp Janney
12/12/24	Initiated	Buy	X
FBRT Franklin BSP Realty Trust Janney
$16
7/29/24	Downgrades	Buy Neutral	X
FCF First Commonwealth Janney
$16 $19
9/29/22	Initiated	Buy	X
FCF First Commonwealth Janney
$16
8/1/22	Downgrades	Buy Neutral	X
FCPT Four Corners Property Trust Janney
$30
6/21/19	Initiated	Buy	X
FCPT Four Corners Property Trust Janney
$32
7/18/19	Upgrades	Neutral Buy	X
FFNW First Financial Northwest Janney
6/3/22	Downgrades	Buy Neutral	X
FGBI First Guaranty Bancshares Janney
5/3/22	Upgrades	Neutral Buy	X
FIBK First Interstate Bancsystem Janney
$42
3/22/21	Downgrades	Buy Neutral	X
FIBK First Interstate Bancsystem Janney
1/3/19	Upgrades	Neutral Buy	X
FLDM Fluidigm Janney
6/2/23	Initiated	Buy	X
FLNC Fluence Janney
$30
12/21/22	Initiated	Neutral	X
FMAO Farmers and Merchants Janney
$30
3/10/23	Initiated	Neutral	X
FMNB Farmers National Janney
$14
4/5/19	Initiated	Buy	X
FOLD Amicus Therapeutics Janney
1/13/23	Upgrades	Neutral Buy	X
FPI Farmland Partners Janney
3/16/18	Downgrades	Buy Neutral	X
FPI Farmland Partners Janney
4/25/23	Downgrades	Neutral Sell	X
FRC First Republic Bank Janney
$10 $8
7/29/21	Upgrades	Neutral Buy	X
FRME First Merchants Janney
$48
10/29/24	Upgrades	Neutral Buy	X
FSLR First Solar Janney
$260
6/18/24	Downgrades	Buy Neutral	X
FSLR First Solar Janney
4/12/24	Initiated	Buy	X
FSLR First Solar Janney
$236
4/9/18	Downgrades	Buy Neutral	X
FSP Franklin Street Properties Janney
4/29/24	Upgrades	Neutral Buy	X
FULT Fulton Fincl Janney
$19.50
1/10/23	Initiated	Neutral	X
FULT Fulton Fincl Janney
$19.50
6/2/22	Downgrades	Buy Neutral	X
FVCB FVCBankcorp Janney
12/4/24	Downgrades	Buy Neutral	X
FXNC First National Janney
8/1/24	Upgrades	Neutral Buy	X
FXNC First National Janney
$21
9/12/23	Downgrades	Buy Neutral	X
FXNC First National Janney
$19
11/16/22	Initiated	Buy	X
FXNC First National Janney
$21.50
2/14/18	Initiated	Buy	X
GBT Global Blood Therapeutics Janney
7/12/22	Initiated	Neutral	X
GECC Great Elm Capital Janney
$12
7/12/22	Initiated	Neutral	X
GLAD Gladstone Janney
12/20/18	Downgrades	Buy Neutral	X
GMRE Global Medical REIT Janney
6/13/24	Downgrades	Buy Neutral	X
GNRC Generac Janney
$126 $154
8/4/23	Upgrades	Neutral Buy	X
GNRC Generac Janney
12/28/22	Initiated	Buy	X
GNRC Generac Janney
$160
1/13/23	Downgrades	Buy Neutral	X
GOOD Gladstone Commercial Janney
$17.50
9/19/22	Initiated	Buy	X
GWRS Global Water Resources Janney
$17
11/15/24	Upgrades	Neutral Buy	X
HAFC Hanmi Financial Janney
1/27/21	Upgrades	Neutral Buy	X
HAFC Hanmi Financial Janney
7/8/19	Downgrades	Buy Neutral	X
HBIO Harvard Biosci Janney
$2
7/26/19	Downgrades	Buy Neutral	X
HFWA Heritage Financial Corp. Janney
12/4/18	Upgrades	Neutral Buy	X
HIG Hartford Financial Janney
1/14/21	Upgrades	Neutral Buy	X
HIW Highwoods Prop Janney
$43
12/20/18	Upgrades	Neutral Buy	X
HIW Highwoods Prop Janney
6/20/24	Upgrades	Neutral Buy	X
HMST HomeStreet Janney
$13.50
8/6/19	Initiated	Buy	X
HONE HarborOne Bancorp Janney
10/14/22	Upgrades	Neutral Buy	X
HRMY Harmony Biosciences Janney
$57 $61
10/5/22	Initiated	Neutral	X
HRZN Horizon Technology Finance Janney
$10
12/20/18	Upgrades	Neutral Buy	X
HT Hersha Hospitality Trust Janney
2/21/23	Upgrades	Neutral Buy	X
HTBI HomeTrust Bank Janney
3/14/23	Downgrades	Buy Neutral	X
HWC Hancock Whitney Janney
$44.50
3/9/22	Initiated	Neutral	X
IBTX Independent Bank Group Janney
3/29/19	Downgrades	Buy Neutral	X
IEX IDEX Corp Janney
10/25/18	Upgrades	Neutral Buy	X
IEX IDEX Corp Janney
10/20/22	Downgrades	Buy Neutral	X
INBK First Internet Bancorp Janney
$37 $32
2/1/21	Upgrades	Neutral Buy	X
INBK First Internet Bancorp Janney
$36
5/14/19	Downgrades	Buy Neutral	X
INSY Insys Therapeutics Janney
12/19/18	Resumed	Buy	X
INSY Insys Therapeutics Janney
5/29/18	Initiated	Buy	X
IO ION Geophysical Janney
$35
8/6/19	Upgrades	Neutral Buy	X
ISBC Investors Bancorp Janney
9/27/24	Initiated	Buy	X
ITRI Itron Janney
$131
6/6/24	Initiated	Buy	X
IVR Invesco Mortgage Capital Janney
$10
7/16/24	Initiated	Buy	X
KINS Kingstone Janney
$6.50
6/7/19	Upgrades	Neutral Buy	X
KWR Quaker Chemical Janney
1/29/19	Resumed	Neutral	X
KWR Quaker Chemical Janney
$198
7/13/18	Initiated	Neutral	X
KWR Quaker Chemical Janney
$170
7/25/24	Initiated	Buy	X
LB LandBridge Janney
$36
1/26/23	Downgrades	Buy Neutral	X
LC Lending Club Janney
$10
1/12/22	Upgrades	Neutral Buy	X
LC Lending Club Janney
$32
11/30/22	Initiated	Neutral	X
LCNB LCNB Janney
$19
3/13/25	Downgrades	Buy Neutral	X
LNZA LanzaTech Janney
12/28/23	Initiated	Buy	X
LNZA LanzaTech Janney
$10
6/13/24	Upgrades	Neutral Buy	X
MAA Mid-America Aptmt Janney
$150
4/4/19	Downgrades	Buy Neutral	X
MAA Mid-America Aptmt Janney
12/21/22	Initiated	Neutral	X
MBCN Middlefield Banc Janney
$30
5/8/24	Downgrades	Buy Neutral	X
MBWM Mercantile Bank Janney
1/16/24	Upgrades	Neutral Buy	X
MBWM Mercantile Bank Janney
8/30/23	Initiated	Buy	X
MCBC Macatawa Bank Corporation Janney
$11
9/30/22	Initiated	Buy	X
MDV Modiv Janney
$20
1/2/25	Initiated	Buy	X
MFA MFA Financial Janney
$14
3/15/24	Downgrades	Buy Neutral	X
MKL Markel Group Janney
$1600
12/22/22	Initiated	Buy	X
MKL Markel Corp Janney
$1550
3/1/19	Initiated	Buy	X
MRKR Marker International Janney
6/24/22	Upgrades	Neutral Buy	X
MSEX Middlesex Water Janney
4/14/21	Downgrades	Buy Neutral	X
MSEX Middlesex Water Janney
3/2/21	Upgrades	Neutral Buy	X
MSEX Middlesex Water Janney
1/20/21	Downgrades	Buy Neutral	X
MSEX Middlesex Water Janney
$73
5/8/19	Upgrades	Neutral Buy	X
MSEX Middlesex Water Janney
$58 $66
12/17/18	Downgrades	Buy Neutral	X
MSEX Middlesex Water Janney
5/9/18	Downgrades	Buy Neutral	X
MSEX Middlesex Water Janney
1/22/21	Initiated	Neutral	X
MTH Meritage Janney
4/2/24	Downgrades	Buy Neutral	X
MVST Microvast Janney
8/31/23	Initiated	Buy	X
MVST Microvast Janney
$8
3/21/24	Upgrades	Neutral Buy	X
NBTB NBT Bancorp Janney
8/22/18	Initiated	Buy	X
NITE Nightstar Therapeutics Janney
$34
11/22/24	Upgrades	Neutral Buy	X
NKSH Natl Bankshares Janney
6/2/22	Initiated	Neutral	X
NKSH Natl Bankshares Janney
$37
6/6/24	Initiated	Buy	X
NLY Annaly Capital Mgmt Janney
$21
2/7/22	Initiated	Buy	X
NMFC New Mountain Finance Janney
1/15/25	Downgrades	Buy Neutral	X
NNN NNN REIT Janney
$43
6/28/23	Upgrades	Neutral Buy	X
NNN NNN REIT Janney
$48
3/4/25	Downgrades	Buy Neutral	X
NOVA Sunnova Energy Janney
3/22/24	Upgrades	Neutral Buy	X
NOVA Sunnova Energy Janney
$12
2/27/24	Downgrades	Buy Neutral	X
NOVA Sunnova Energy Janney
12/1/22	Initiated	Buy	X
NOVA Sunnova Energy Janney
$33
7/14/23	Initiated	Buy	X
NPWR NET Power Janney
$36
6/18/19	Initiated	Buy	X
NTRP Neurotrope Janney
$14
9/29/22	Initiated	Neutral	X
NWBI Northwest Bancshares Janney
$15
1/2/25	Initiated	Buy	X
NWFL Norwood Financial Corp. Janney
$31
8/5/24	Upgrades	Neutral Buy	X
NWN Northwest Natural Janney
1/31/24	Initiated	Neutral	X
NWN Northwest Natural Janney
$39
8/12/22	Upgrades	Neutral Buy	X
NXRT NexPoint Residential Janney
10/16/23	Initiated	Buy	X
NXT Nextracker Janney
$43
8/13/24	Initiated	Neutral	X
NYMT New York Mortgage Trust Janney
$7
8/29/18	Downgrades	Buy Neutral	X
O Realty Income Janney
7/29/19	Initiated	Neutral	X
OCSL Oaktree Specialty Lending Corp Janney
1/29/19	Upgrades	Neutral Buy	X
OCX OncoCyte Janney
3/21/18	Downgrades	Buy Neutral	X
OCX OncoCyte Janney
3/1/18	Upgrades	Neutral Buy	X
OMF OneMain Holdings Janney
5/26/23	Initiated	Buy	X
OPAL OPAL Fuels Janney
$13
6/6/24	Initiated	Buy	X
ORC Orchid Island Capital Janney
$9.50
2/24/21	Upgrades	Neutral Buy	X
ORCC Owl Rock Capital Janney
$15
6/28/24	Initiated	Buy	X
ORRF Orrstown Financial Services Janney
$32
3/13/23	Upgrades	Neutral Buy	X
PB Prosperity Bancshares Janney
$76
1/26/23	Downgrades	Buy Neutral	X
PB Prosperity Bancshares Janney
$80
4/13/23	Initiated	Neutral	X
PEBO Peoples Bancorp Janney
$28
1/22/21	Initiated	Buy	X
PHM PulteGroup Janney
11/2/18	Downgrades	Buy Neutral	X
PKI PerkinElmer Janney
4/12/19	Resumed	Buy	X
PLXP PLx Pharma Janney
6/7/19	Downgrades	Buy Neutral	X
PPBI Pacific Premier Janney
2/24/23	Initiated	Neutral	X
PRA ProAssurance Janney
$21
6/17/19	Initiated	Neutral	X
PRK Park National Janney
$106
1/29/21	Downgrades	Buy Neutral	X
PROV Provident Fincl Janney
6/21/19	Initiated	Buy	X
PSTL Postal Realty Janney
$18
4/30/21	Upgrades	Neutral Buy	X
RBB RBB Bancorp Janney
$24
7/25/19	Downgrades	Buy Neutral	X
RBNC Reliant Bancorp Janney
2/5/19	Downgrades	Buy Neutral	X
RCII Rent-A-Center Janney
1/31/19	Resumed	Buy	X
REPH Recro Pharma Janney
$13
5/10/19	Upgrades	Neutral Buy	X
RGCO RGC Resources Janney
2/6/18	Upgrades	Neutral Buy	X
RGCO RGC Resources Janney
5/9/19	Upgrades	Neutral Buy	X
RM Regional Mgmt Janney
12/31/24	Initiated	Buy	X
RPT Rithm Property Trust Janney
$4
2/27/24	Downgrades	Buy Neutral	X
RUN Sunrun Janney
8/3/23	Upgrades	Neutral Buy	X
RUN Sunrun Janney
12/1/22	Initiated	Neutral	X
RUN Sunrun Janney
$30
4/24/23	Initiated	Neutral	X
RWAY Runway Growth Finance Janney
$12
11/19/24	Downgrades	Buy Neutral	X
SABK South Atlantic Bancshares Janney
11/12/24	Upgrades	Neutral Buy	X
SABK South Atlantic Bancshares Janney
$17.25
5/1/23	Downgrades	Buy Neutral	X
SABK South Atlantic Bancshares Janney
$16 $14
11/10/22	Upgrades	Neutral Buy	X
SABK South Atlantic Bancshares Janney
$16
6/18/21	Initiated	Buy	X
SACH Sachem Capital Janney
4/24/23	Initiated	Buy	X
SAR Saratoga Investment Janney
$27
1/7/21	Upgrades	Neutral Buy	X
SAR Saratoga Investment Janney
3/1/24	Initiated	Neutral	X
SASR Sandy Spring Banc Janney
$25
1/19/22	Upgrades	Neutral Buy	X
SBNY Signature Bank Janney
3/12/18	Downgrades	Buy Neutral	X
SBS Saneamento Basico Janney
7/17/19	Downgrades	Buy Neutral	X
SC Santander Consumer USA Janney
6/29/18	Upgrades	Neutral Buy	X
SC Santander Consumer USA Janney
10/5/22	Initiated	Neutral	X
SCM Stellus Capital Janney
$11
10/2/18	Reiterated	Buy	X
SEAS SeaWorld Entertainment Janney
$31 $38
3/22/24	Downgrades	Buy Neutral	X
SEDG SolarEdge Technologies Janney
4/5/23	Initiated	Buy	X
SEDG SolarEdge Technologies Janney
$351
6/27/18	Initiated	Buy	X
SELB Selecta Biosciences Janney
$33
3/16/21	Downgrades	Buy Neutral	X
SFST Southern First Bancshares Janney
7/30/24	Downgrades	Buy Neutral	X
SHBI Shore Bancshares Janney
8/15/23	Upgrades	Neutral Buy	X
SHBI Shore Bancshares Janney
8/31/22	Initiated	Neutral	X
SHBI Shore Bancshares Janney
1/19/24	Initiated	Buy	X
SHLS Shoals Technologies Janney
$20
11/11/22	Initiated	Neutral	X
SIGI Selective Insurance Janney
$96
10/21/22	Downgrades	Buy Neutral	X
SIVB SVB Financial Group Janney
4/22/22	Upgrades	Neutral Buy	X
SIVB SVB Financial Group Janney
$875
1/21/22	Downgrades	Buy Neutral	X
SIVB SVB Financial Group Janney
$700
4/23/21	Upgrades	Neutral Buy	X
SIVB SVB Financial Group Janney
$600
1/9/23	Downgrades	Buy Neutral	X
SJI South Jersey Industries Janney
9/10/18	Upgrades	Neutral Buy	X
SJW SJW Janney
1/25/23	Downgrades	Buy Neutral	X
SMBK SmartFinancial Janney
$30
6/28/18	Downgrades	Buy Neutral	X
SMMT Summit Therapeutics Janney
5/2/18	Initiated	Buy	X
SMMT Summit Therapeutics Janney
4/24/23	Upgrades	Neutral Buy	X
SNV Synovus Janney
$38
2/9/23	Initiated	Neutral	X
SPWR SunPower Janney
$16
12/17/24	Initiated	Neutral	X
SR Spire Janney
$73
11/2/23	Downgrades	Buy Neutral	X
SRC Spirit Realty Capital Janney
$40
1/12/22	Upgrades	Neutral Buy	X
SRC Spirit Realty Capital Janney
$52 $53
9/29/22	Initiated	Neutral	X
STBA S&T Bancorp Janney
$32
6/6/23	Initiated	Buy	X
STEM Stem Janney
$12
7/13/18	Downgrades	Buy Neutral	X
STOR STORE Capital Janney
1/6/21	Downgrades	Buy Neutral	X
SVC Service Properties Trust Janney
4/7/21	Upgrades	Neutral Buy	X
TCBI Texas Capital Janney
7/26/24	Downgrades	Buy Neutral	X
TCBK TriCo Bancshares Janney
5/3/22	Upgrades	Neutral Buy	X
TCBK TriCo Bancshares Janney
$49
7/2/19	Upgrades	Neutral Buy	X
TECH Bio-Techne Janney
$200 $270
2/24/25	Upgrades	Neutral Buy	X
THFF First Financial Janney
$58
11/21/24	Downgrades	Buy Neutral	X
THG Hanover Insurance Janney
$176
11/11/22	Initiated	Buy	X
THG Hanover Insurance Janney
$164
12/17/18	Initiated	Buy	X
TLC Taiwan Liposome Janney
1/22/21	Initiated	Neutral	X
TMHC Taylor Morrison Home Janney
4/26/21	Initiated	Buy	X
TOL Toll Brothers Janney
$80
1/22/21	Initiated	Buy	X
TPH TRI Pointe Homes Janney
2/23/21	Initiated	Buy	X
TRIN Trinity Capital Janney
$15
1/24/25	Initiated	Buy	X
TRMK Trustmark Janney
$42
11/21/24	Downgrades	Buy Neutral	X
TRV Travelers Janney
$280
7/31/19	Downgrades	Buy Neutral	X
TTOO T2 Biosystems Janney
8/16/24	Initiated	Buy	X
TWO Two Harbors Investment Janney
$15
9/6/22	Initiated	Buy	X
UBSI United Bankshares Janney
$40
1/19/23	Downgrades	Buy Neutral	X
UCBI United Comm Banks Janney
10/26/23	Upgrades	Neutral Buy	X
UMBF UMB Financial Corporation Janney
$73
1/26/23	Downgrades	Buy Neutral	X
UMBF UMB Financial Corporation Janney
$94
12/21/21	Upgrades	Neutral Buy	X
UMBF UMB Financial Corporation Janney
$115
12/15/22	Initiated	Buy	X
UNTY Unity Bancorp Janney
$32
3/5/18	Upgrades	Neutral Buy	X
USAC USA Compression Partners Janney
6/28/19	Downgrades	Buy Neutral	X
UTL UNITIL Corporation Janney
11/29/18	Downgrades	Buy Neutral	X
VCYT Veracyte Janney
10/31/18	Upgrades	Neutral Buy	X
VCYT Veracyte Janney
8/4/22	Initiated	Buy	X
VLY Valley National Janney
4/18/24	Initiated	Buy	X
VST Vistra Energy Janney
$82
7/17/18	Downgrades	Buy Neutral	X
WAT Waters Janney
7/25/24	Downgrades	Buy Neutral	X
WNEB Western New England Bancorp Janney
1/28/21	Upgrades	Neutral Buy	X
WNEB Western New England Bancorp Janney
11/11/22	Initiated	Buy	X
WRB W.R. Berkley Janney
$88
9/6/22	Initiated	Neutral	X
WSBC WesBanco Inc Janney
$37
10/28/24	Downgrades	Buy Neutral	X
WSFS WSFS Financial Janney
12/1/22	Initiated	Buy	X
WSFS WSFS Financial Janney
$57
3/8/22	Upgrades	Neutral Buy	X
WTFC Wintrust Fin Janney
10/21/21	Downgrades	Buy Neutral	X
WTFC Wintrust Fin Janney
2/1/21	Upgrades	Neutral Buy	X
WTFC Wintrust Fin Janney
$70
5/6/19	Upgrades	Neutral Buy	X
WTS Watts Water Tech. Janney
2/11/19	Downgrades	Buy Neutral	X
WTS Watts Water Tech. Janney
2/14/18	Upgrades	Neutral Buy	X
WTS Watts Water Tech. Janney
5/3/19	Upgrades	Neutral Buy	X
XYL Xylem Janney
$86
3/29/19	Downgrades	Buy Neutral	X
XYL Xylem Janney
5/9/19	Upgrades	Neutral Buy	X
YORW York Water Janney
$36 $37
3/13/19	Downgrades	Buy Neutral	X
YORW York Water Janney
1/18/19	Initiated	Buy	X
YORW York Water Janney
6/15/23	Downgrades	Buy Neutral	X
ZION Zions Bancorp Janney
$35
2/9/21	Upgrades	Neutral Buy	X
ZION Zions Bancorp Janney