Analyst Ratings Published by Keefe Bruyette

4/6/21	Downgrades	Outperform Mkt Perform	X
AB AllianceBernstein Keefe Bruyette
$42
1/12/21	Upgrades	Mkt Perform Outperform	X
AB AllianceBernstein Keefe Bruyette
$40
11/15/18	Upgrades	Mkt Perform Outperform	X
ACBI Atlantic Capital Keefe Bruyette
3/22/18	Upgrades	Mkt Perform Outperform	X
ACGL Arch Capital Keefe Bruyette
3/8/23	Downgrades	Outperform Mkt Perform	X
ACRE Ares Commercial Real Estate Keefe Bruyette
$12.50
2/8/23	Upgrades	Mkt Perform Outperform	X
ACT Enact Holdings Keefe Bruyette
$25 $26.50
7/18/22	Downgrades	Outperform Mkt Perform	X
ACT Enact Holdings Keefe Bruyette
$28 $27
5/28/19	Upgrades	Underperform Mkt Perform	X
AEG AEGON N.V. Keefe Bruyette
7/13/22	Downgrades	Outperform Mkt Perform	X
AEL American Equity Investment Life Keefe Bruyette
$43 $41
12/1/21	Upgrades	Mkt Perform Outperform	X
AEL American Equity Investment Life Keefe Bruyette
$42
2/7/25	Downgrades	Outperform Mkt Perform	X
AFG American Fincl Keefe Bruyette
$164 $144
1/11/19	Initiated	Mkt Perform	X
AFG American Fincl Keefe Bruyette
7/29/24	Downgrades	Outperform Mkt Perform	X
AGM Fed Agricult Mortg Keefe Bruyette
$212 $215
9/6/23	Initiated	Outperform	X
AGM Fed Agricult Mortg Keefe Bruyette
$220
6/9/22	Upgrades	Mkt Perform Outperform	X
AGNC AGNC Investment Keefe Bruyette
$12.25 $13.25
6/7/21	Downgrades	Outperform Mkt Perform	X
AGNC AGNC Investment Keefe Bruyette
$18.25
1/14/19	Upgrades	Mkt Perform Outperform	X
AGNC AGNC Investment Keefe Bruyette
7/9/24	Upgrades	Mkt Perform Outperform	X
AGO Assured Guaranty Keefe Bruyette
$87 $92
4/1/24	Downgrades	Outperform Mkt Perform	X
AGO Assured Guaranty Keefe Bruyette
$75 $92
2/20/25	Upgrades	Mkt Perform Outperform	X
AIZ Assurant Keefe Bruyette
$212 $230
2/12/24	Downgrades	Outperform Mkt Perform	X
AIZ Assurant Keefe Bruyette
$170 $182
3/21/23	Upgrades	Mkt Perform Outperform	X
AIZ Assurant Keefe Bruyette
$52
11/3/22	Downgrades	Outperform Mkt Perform	X
AIZ Assurant Keefe Bruyette
$199 $151
7/16/18	Initiated	Outperform	X
AIZ Assurant Keefe Bruyette
$121
1/10/25	Upgrades	Underperform Mkt Perform	X
AJG Arthur J. Gallagher Keefe Bruyette
$286
12/15/23	Downgrades	Mkt Perform Underperform	X
AJG Arthur J. Gallagher Keefe Bruyette
$237 $230
1/18/23	Downgrades	Outperform Mkt Perform	X
AJG Arthur J. Gallagher Keefe Bruyette
$210
10/12/22	Upgrades	Mkt Perform Outperform	X
ALL Allstate Keefe Bruyette
$136 $158
2/11/21	Downgrades	Outperform Mkt Perform	X
ALL Allstate Keefe Bruyette
$13
4/2/18	Upgrades	Underperform Mkt Perform	X
ALL Allstate Keefe Bruyette
4/12/23	Initiated	Mkt Perform	X
ALRS Alerus Financial Keefe Bruyette
$18
9/4/18	Initiated	Mkt Perform	X
AMAL Amalgamated Bank Keefe Bruyette
$19
7/31/18	Upgrades	Mkt Perform Outperform	X
AMG Affiliated Managers Keefe Bruyette
4/11/18	Downgrades	Outperform Mkt Perform	X
AMG Affiliated Managers Keefe Bruyette
$250 $206
12/13/22	Downgrades	Outperform Mkt Perform	X
AMNB Am Natl Bankshares Keefe Bruyette
$42
7/26/21	Upgrades	Mkt Perform Outperform	X
AMNB Am Natl Bankshares Keefe Bruyette
$35 $37
11/9/18	Upgrades	Mkt Perform Outperform	X
AMNB Am Natl Bankshares Keefe Bruyette
12/19/22	Downgrades	Outperform Mkt Perform	X
AMP Ameriprise Financial Keefe Bruyette
$325
12/13/22	Downgrades	Outperform Mkt Perform	X
AMTB Amerant Bancorp Keefe Bruyette
$32
4/30/21	Upgrades	Mkt Perform Outperform	X
AMTB Mercantil Bank Keefe Bruyette
$21 $24
5/20/19	Downgrades	Outperform Mkt Perform	X
AMTB Mercantil Bank Keefe Bruyette
$19
1/14/19	Initiated	Outperform	X
AMTB Mercantil Bank Keefe Bruyette
$19
3/6/18	Upgrades	Mkt Perform Outperform	X
AMTD TD Ameritrade Keefe Bruyette
10/8/18	Upgrades	Mkt Perform Outperform	X
ANCX Access National Keefe Bruyette
7/30/24	Upgrades	Underperform Outperform	X
AON Aon Keefe Bruyette
$313 $380
12/15/23	Downgrades	Mkt Perform Underperform	X
AON Aon Keefe Bruyette
$328
7/12/21	Downgrades	Outperform Mkt Perform	X
APAM Artisan Partners Asset Mgmt Keefe Bruyette
$55
2/4/21	Upgrades	Mkt Perform Outperform	X
APAM Artisan Partners Asset Mgmt Keefe Bruyette
$55 $59
2/10/23	Upgrades	Mkt Perform Outperform	X
APO Apollo Global Management Keefe Bruyette
$84 $88
1/3/23	Downgrades	Outperform Mkt Perform	X
APO Apollo Global Management Keefe Bruyette
$77
10/15/24	Downgrades	Mkt Perform Underperform	X
APPF AppFolio Keefe Bruyette
$255 $193
1/8/25	Initiated	Underperform	X
ARBK Argo Blockchain Plc Keefe Bruyette
12/20/24	Upgrades	Mkt Perform Outperform	X
ARES Ares Management Keefe Bruyette
$166 $202
7/10/23	Downgrades	Outperform Mkt Perform	X
ARES Ares Management Keefe Bruyette
$99 $98
5/22/24	Initiated	Mkt Perform	X
ATLC Atlanticus Keefe Bruyette
$33
4/6/23	Downgrades	Outperform Mkt Perform	X
AUB Atlantic Union Bankshares Keefe Bruyette
$42 $36
4/9/24	Initiated	Mkt Perform	X
AVDX AvidXchange Keefe Bruyette
$13.50
7/31/24	Downgrades	Outperform Mkt Perform	X
AX Axos Financial Keefe Bruyette
$79
7/11/22	Upgrades	Mkt Perform Outperform	X
AX Axos Financial Keefe Bruyette
$52 $56
11/13/23	Upgrades	Mkt Perform Outperform	X
AXS AXIS Capital Keefe Bruyette
$59 $66
12/19/22	Downgrades	Outperform Mkt Perform	X
AXS AXIS Capital Keefe Bruyette
$63 $60
3/13/19	Upgrades	Mkt Perform Outperform	X
AXS AXIS Capital Keefe Bruyette
$61 $67
6/14/24	Upgrades	Mkt Perform Outperform	X
BAC Bank of America Keefe Bruyette
$37 $46
11/6/23	Upgrades	Underperform Mkt Perform	X
BAC Bank of America Keefe Bruyette
$29 $30
2/9/23	Downgrades	Mkt Perform Underperform	X
BAC Bank of America Keefe Bruyette
$35 $33
7/7/21	Resumed	Mkt Perform	X
BAC Bank of America Keefe Bruyette
$40
7/26/19	Upgrades	Mkt Perform Outperform	X
BAC Bank of America Keefe Bruyette
$32 $36
3/22/24	Upgrades	Mkt Perform Outperform	X
BANC Banc of California Keefe Bruyette
$16 $18
7/31/23	Downgrades	Outperform Mkt Perform	X
BANC Banc of California Keefe Bruyette
$16
3/24/21	Upgrades	Mkt Perform Outperform	X
BANC Banc of California Keefe Bruyette
$24
11/14/22	Downgrades	Outperform Mkt Perform	X
BBDC Barings BDC Keefe Bruyette
$10.50 $10
12/4/23	Upgrades	Mkt Perform Outperform	X
BBVA Banco Bilbao Vizcaya Argentaria Keefe Bruyette
2/27/18	Downgrades	Outperform Mkt Perform	X
BCBP BCB Bancorp Keefe Bruyette
6/29/22	Downgrades	Mkt Perform Underperform	X
BEN Franklin Resources Keefe Bruyette
4/12/22	Downgrades	Outperform Mkt Perform	X
BEN Franklin Resources Keefe Bruyette
$30
11/2/21	Upgrades	Mkt Perform Outperform	X
BEN Franklin Resources Keefe Bruyette
$35 $45
5/2/24	Upgrades	Mkt Perform Outperform	X
BFH Bread Financial Keefe Bruyette
$38 $67
3/17/23	Downgrades	Outperform Mkt Perform	X
BFH Bread Financial Keefe Bruyette
$60 $35
12/13/22	Downgrades	Outperform Mkt Perform	X
BHB Bar Harbor Bankshares Keefe Bruyette
$33
7/16/21	Initiated	Outperform	X
BHB Bar Harbor Bankshares Keefe Bruyette
$34
11/2/18	Upgrades	Mkt Perform Outperform	X
BHBK Blue Hills Bancorp Keefe Bruyette
12/15/23	Downgrades	Mkt Perform Underperform	X
BHF Brighthouse Financial Keefe Bruyette
$54 $50
1/10/22	Resumed	Mkt Perform	X
BHLB Berkshire Hills Bancorp Keefe Bruyette
$30
7/23/18	Downgrades	Outperform Mkt Perform	X
BHLB Berkshire Hills Bancorp Keefe Bruyette
7/10/23	Downgrades	Outperform Mkt Perform	X
BILL Bill.com Keefe Bruyette
$150 $120
1/7/22	Initiated	Outperform	X
BILL Bill.com Keefe Bruyette
$300
1/8/25	Initiated	Outperform	X
BITF Bitfarms Keefe Bruyette
6/27/24	Upgrades	Mkt Perform Outperform	X
BK BNY Mellon Keefe Bruyette
$60 $70
1/11/22	Downgrades	Outperform Mkt Perform	X
BK BNY Mellon Keefe Bruyette
$66 $70
6/17/21	Upgrades	Mkt Perform Outperform	X
BK BNY Mellon Keefe Bruyette
$59
7/18/19	Upgrades	Underperform Mkt Perform	X
BK BNY Mellon Keefe Bruyette
10/19/18	Downgrades	Mkt Perform Underperform	X
BK BNY Mellon Keefe Bruyette
5/9/22	Downgrades	Outperform Mkt Perform	X
BKI Black Knight Keefe Bruyette
$83 $80
6/3/22	Downgrades	Outperform Mkt Perform	X
BKU BankUnited Keefe Bruyette
$51
1/21/22	Upgrades	Mkt Perform Outperform	X
BKU BankUnited Keefe Bruyette
$50
8/30/22	Initiated	Mkt Perform	X
BLFY Blue Foundry Bancorp Keefe Bruyette
$13.25
7/10/23	Upgrades	Mkt Perform Outperform	X
BLK BlackRock Keefe Bruyette
$770 $835
7/13/18	Upgrades	Mkt Perform Outperform	X
BLK BlackRock Keefe Bruyette
11/14/22	Upgrades	Underperform Mkt Perform	X
BLND Blend Labs Keefe Bruyette
$2.25
7/25/22	Downgrades	Mkt Perform Underperform	X
BLND Blend Labs Keefe Bruyette
$4 $2.75
6/3/24	Downgrades	Outperform Mkt Perform	X
BMO Bank of Montreal Keefe Bruyette
12/21/21	Resumed	Outperform	X
BMRC Bank of Marin Keefe Bruyette
$45
7/20/21	Upgrades	Mkt Perform Outperform	X
BMRC Bank of Marin Keefe Bruyette
$43
10/26/21	Downgrades	Outperform Mkt Perform	X
BMTC Bryn Mawr Bank Keefe Bruyette
$50
7/30/21	Upgrades	Mkt Perform Outperform	X
BMTC Bryn Mawr Bank Keefe Bruyette
$52 $50
3/12/21	Downgrades	Outperform Mkt Perform	X
BMTC Bryn Mawr Bank Keefe Bruyette
$50 $42
1/22/19	Downgrades	Outperform Mkt Perform	X
BMTC Bryn Mawr Bank Keefe Bruyette
5/12/23	Downgrades	Outperform Mkt Perform	X
BN Brookfield Corp. Keefe Bruyette
8/24/22	Downgrades	Outperform Mkt Perform	X
BNS Bank of Nova Scotia Keefe Bruyette
10/2/24	Upgrades	Underperform Mkt Perform	X
BOH Bank of Hawaii Keefe Bruyette
$60 $67
7/25/23	Downgrades	Mkt Perform Underperform	X
BOH Bank of Hawaii Keefe Bruyette
$47
4/6/23	Upgrades	Mkt Perform Outperform	X
BPOP Popular Keefe Bruyette
$74
1/26/23	Downgrades	Outperform Mkt Perform	X
BPOP Popular Keefe Bruyette
$85 $74
4/12/22	Resumed	Outperform	X
BPOP Popular Keefe Bruyette
$115
12/24/24	Downgrades	Outperform Mkt Perform	X
BRKL Brookline Bancorp Keefe Bruyette
12/4/24	Upgrades	Mkt Perform Outperform	X
BRKL Brookline Bancorp Keefe Bruyette
$12 $14.50
1/10/22	Resumed	Mkt Perform	X
BRKL Brookline Bancorp Keefe Bruyette
$18
12/15/23	Downgrades	Outperform Mkt Perform	X
BRO Brown & Brown Keefe Bruyette
$78 $71
8/1/23	Downgrades	Outperform Mkt Perform	X
BRO Brown & Brown Keefe Bruyette
$73 $76
1/19/21	Upgrades	Mkt Perform Outperform	X
BRO Brown & Brown Keefe Bruyette
$50 $54
10/29/21	Downgrades	Outperform Mkt Perform	X
BSIG BrightSphere Investment Group Keefe Bruyette
$31 $32
1/9/19	Downgrades	Outperform Mkt Perform	X
BSIG BrightSphere Investment Group Keefe Bruyette
11/14/22	Downgrades	Outperform Mkt Perform	X
BSRR Sierra Bancorp Keefe Bruyette
$26 $24
12/21/21	Resumed	Outperform	X
BSRR Sierra Bancorp Keefe Bruyette
$33
1/7/22	Initiated	Mkt Perform	X
BTRS BTRS Holdings Keefe Bruyette
$8
5/17/18	Upgrades	Mkt Perform Outperform	X
BUSE First Busey Corp Keefe Bruyette
5/5/21	Upgrades	Mkt Perform Outperform	X
BWFG Bankwell Financial Group Keefe Bruyette
$32 $35
5/8/18	Downgrades	Outperform Mkt Perform	X
BWFG Bankwell Financial Group Keefe Bruyette
7/25/22	Downgrades	Outperform Mkt Perform	X
BX Blackstone Keefe Bruyette
$127 $115
12/15/22	Downgrades	Outperform Mkt Perform	X
BXMT Blackstone Mortgage Trust Keefe Bruyette
$26
10/27/21	Upgrades	Mkt Perform Outperform	X
BXS BancorpSouth Keefe Bruyette
$33 $37
7/7/21	Resumed	Outperform	X
C Citigroup Keefe Bruyette
$85
7/26/19	Upgrades	Mkt Perform Outperform	X
C Citigroup Keefe Bruyette
$74 $86
4/19/21	Downgrades	Outperform Mkt Perform	X
CADE Cadence Bancorp Keefe Bruyette
7/23/19	Downgrades	Outperform Mkt Perform	X
CADE Cadence Bancorp Keefe Bruyette
$18
11/9/18	Upgrades	Mkt Perform Outperform	X
CADE Cadence Bancorp Keefe Bruyette
6/30/21	Downgrades	Outperform Mkt Perform	X
CAI CAI Intl Keefe Bruyette
$56
2/21/19	Downgrades	Outperform Mkt Perform	X
CAI CAI Intl Keefe Bruyette
$29
9/7/18	Upgrades	Mkt Perform Outperform	X
CAI CAI Intl Keefe Bruyette
8/2/23	Upgrades	Mkt Perform Outperform	X
CALB California BanCorp Keefe Bruyette
$20 $25
7/10/18	Downgrades	Outperform Mkt Perform	X
CARO Carolina Financial Keefe Bruyette
7/28/22	Downgrades	Outperform Mkt Perform	X
CASH Pathward Financial Keefe Bruyette
$67 $45
10/6/23	Upgrades	Mkt Perform Outperform	X
CATC Cambridge Bancorp Keefe Bruyette
$56 $79.30
4/27/23	Downgrades	Outperform Mkt Perform	X
CATC Cambridge Bancorp Keefe Bruyette
$85 $62
7/19/21	Resumed	Outperform	X
CATC Cambridge Bancorp Keefe Bruyette
$105
7/23/19	Initiated	Mkt Perform	X
CATC Cambridge Bancorp Keefe Bruyette
8/16/23	Downgrades	Outperform Mkt Perform	X
CBFV CB Financial Service Keefe Bruyette
$25
12/13/22	Downgrades	Outperform Mkt Perform	X
CBNK Capital Bancorp Keefe Bruyette
$30 $26
1/27/23	Downgrades	Outperform Mkt Perform	X
CBRE CBRE Group Keefe Bruyette
$88
2/27/18	Upgrades	Underperform Mkt Perform	X
CBSH Commerce Bancshares Keefe Bruyette
1/29/21	Downgrades	Outperform Mkt Perform	X
CBTX CBTX Keefe Bruyette
$25 $27
1/10/22	Resumed	Mkt Perform	X
CBU Community Bank Keefe Bruyette
$75
4/11/23	Initiated	Outperform	X
CCAP Crescent Capital BDC Keefe Bruyette
$18
12/20/21	Upgrades	Mkt Perform Outperform	X
CCB Coastal Financial Keefe Bruyette
$70
1/26/22	Upgrades	Mkt Perform Outperform	X
CCBG Capital City Bank Keefe Bruyette
$31 $33
4/11/18	Initiated	Mkt Perform	X
CCNE CNB Financial Keefe Bruyette
$35
4/5/22	Downgrades	Outperform Mkt Perform	X
CFG Citizens Financial Group Keefe Bruyette
$64 $54
7/7/21	Resumed	Outperform	X
CFG Citizens Financial Group Keefe Bruyette
$54
1/3/23	Downgrades	Outperform Mkt Perform	X
CG Carlyle Group Keefe Bruyette
$36
1/19/21	Upgrades	Mkt Perform Outperform	X
CG Carlyle Group Keefe Bruyette
$40
1/29/19	Upgrades	Mkt Perform Outperform	X
CHFC Chemical Financial Corp. Keefe Bruyette
1/8/25	Initiated	Outperform	X
CIFR Cipher Mining Keefe Bruyette
7/11/23	Upgrades	Mkt Perform Outperform	X
CINF Cincinnati Fincl Keefe Bruyette
4/20/21	Upgrades	Mkt Perform Outperform	X
CIT CIT Group Keefe Bruyette
$62
7/8/19	Downgrades	Outperform Mkt Perform	X
CIVB Civista Bancshares Keefe Bruyette
$29 $26
1/27/25	Initiated	Outperform	X
CLSK CleanSpark Keefe Bruyette
$19
9/5/24	Upgrades	Mkt Perform Outperform	X
CMA Comerica Keefe Bruyette
$69
6/3/24	Upgrades	Mkt Perform Outperform	X
CM CIBC Keefe Bruyette
12/13/22	Downgrades	Outperform Mkt Perform	X
CMA Comerica Keefe Bruyette
$105 $80
7/7/21	Resumed	Mkt Perform	X
CMA Comerica Keefe Bruyette
$73
12/12/18	Downgrades	Outperform Mkt Perform	X
CMA Comerica Keefe Bruyette
3/1/21	Upgrades	Underperform Mkt Perform	X
CME CME Group Keefe Bruyette
$181 $197
2/25/19	Upgrades	Underperform Mkt Perform	X
CMO Capstead Mortgage Keefe Bruyette
$7 $8.50
10/29/18	Downgrades	Mkt Perform Underperform	X
CMO Capstead Mortgage Keefe Bruyette
7/10/18	Downgrades	Outperform Mkt Perform	X
CMO Capstead Mortgage Keefe Bruyette
12/15/22	Downgrades	Mkt Perform Underperform	X
CMTG Claros Mortgage Trust Keefe Bruyette
$16
7/11/23	Downgrades	Outperform Mkt Perform	X
CNA CNA Financial Keefe Bruyette
2/19/21	Upgrades	Mkt Perform Outperform	X
CNA CNA Financial Keefe Bruyette
$41 $52
5/31/24	Downgrades	Outperform Mkt Perform	X
CNOB ConnectOne Bancorp Keefe Bruyette
2/21/19	Downgrades	Mkt Perform Underperform	X
CNS Cohen & Steers Keefe Bruyette
$36
7/30/18	Downgrades	Outperform Mkt Perform	X
COBZ CoBiz Keefe Bruyette
4/3/24	Reiterated	Mkt Perform	X
COIN Coinbase Global Keefe Bruyette
$160 $230
2/16/24	Upgrades	Underperform Mkt Perform	X
COIN Coinbase Global Keefe Bruyette
$160
8/10/22	Downgrades	Mkt Perform Underperform	X
COIN Coinbase Global Keefe Bruyette
$45
5/4/21	Initiated	Mkt Perform	X
COIN Coinbase Global Keefe Bruyette
$325
1/25/24	Downgrades	Outperform Mkt Perform	X
COLB Columbia Banking Keefe Bruyette
$30 $25
4/6/23	Upgrades	Mkt Perform Outperform	X
COLB Columbia Banking Keefe Bruyette
$36 $29
2/11/22	Resumed	Mkt Perform	X
COLB Columbia Banking Keefe Bruyette
$39
1/29/21	Downgrades	Outperform Mkt Perform	X
COLB Columbia Banking Keefe Bruyette
$39 $43
11/9/18	Upgrades	Mkt Perform Outperform	X
COLB Columbia Banking Keefe Bruyette
7/22/24	Downgrades	Outperform Mkt Perform	X
COOP Mr. Cooper Group Keefe Bruyette
$95
10/2/23	Upgrades	Mkt Perform Outperform	X
COOP Mr. Cooper Group Keefe Bruyette
$62 $65
4/6/21	Downgrades	Outperform Mkt Perform	X
COOP Mr. Cooper Group Keefe Bruyette
$39 $38
1/27/25	Initiated	Outperform	X
CORZ Core Scientific Keefe Bruyette
$22
1/6/22	Downgrades	Mkt Perform Underperform	X
CS Credit Suisse Keefe Bruyette
3/12/19	Downgrades	Mkt Perform Underperform	X
CS Credit Suisse Keefe Bruyette
11/21/18	Downgrades	Outperform Mkt Perform	X
CS Credit Suisse Keefe Bruyette
2/1/18	Upgrades	Mkt Perform Outperform	X
CSFL Centerstate Banks of Florida Keefe Bruyette
7/10/19	Initiated	Outperform	X
CSGP CoStar Group Keefe Bruyette
$650
10/24/22	Downgrades	Outperform Mkt Perform	X
CSTR CapStar Financial Keefe Bruyette
$26 $20
4/28/21	Upgrades	Mkt Perform Outperform	X
CSTR CapStar Financial Keefe Bruyette
$19 $22
11/4/24	Downgrades	Outperform Mkt Perform	X
CUBI Customers Bancorp Keefe Bruyette
$57 $52
3/29/22	Upgrades	Mkt Perform Outperform	X
CUBI Customers Bancorp Keefe Bruyette
$72 $80
10/2/24	Upgrades	Mkt Perform Outperform	X
CVBF CVB Financial Keefe Bruyette
$20 $22
10/21/22	Downgrades	Outperform Mkt Perform	X
CVBF CVB Financial Keefe Bruyette
$32
12/21/21	Resumed	Mkt Perform	X
CVCY Central Valley Bancorp Keefe Bruyette
$24
9/25/24	Upgrades	Mkt Perform Outperform	X
DASH DoorDash Keefe Bruyette
$177
5/27/21	Downgrades	Mkt Perform Underperform	X
DB Deutsche Bank Keefe Bruyette
11/6/24	Downgrades	Outperform Mkt Perform	X
DBRG DigitalBridge Keefe Bruyette
$17.75 $14
6/5/23	Upgrades	Mkt Perform Outperform	X
DBRG DigitalBridge Keefe Bruyette
$12.50 $17.50
1/10/22	Resumed	Outperform	X
DCOM Dime Community Keefe Bruyette
$44
11/16/21	Downgrades	Outperform Mkt Perform	X
DGICA Donegal Group Keefe Bruyette
12/10/24	Downgrades	Outperform Mkt Perform	X
DHI D.R. Horton Keefe Bruyette
$200 $183
12/13/23	Upgrades	Mkt Perform Outperform	X
DHI D.R. Horton Keefe Bruyette
$148 $164
4/22/19	Downgrades	Outperform Mkt Perform	X
DHI D.R. Horton Keefe Bruyette
1/9/19	Upgrades	Mkt Perform Outperform	X
DHI D.R. Horton Keefe Bruyette
6/9/22	Upgrades	Mkt Perform Outperform	X
DX Dynex Capital Keefe Bruyette
$17 $18.75
10/10/22	Downgrades	Outperform Mkt Perform	X
EEFT Euronet Keefe Bruyette
$124 $90
4/22/22	Initiated	Outperform	X
EEFT Euronet Keefe Bruyette
$164
5/15/23	Upgrades	Mkt Perform Outperform	X
EFC Ellington Financial Keefe Bruyette
$13.75
7/18/22	Downgrades	Outperform Mkt Perform	X
EFC Ellington Financial Keefe Bruyette
$14.75
11/6/18	Upgrades	Mkt Perform Outperform	X
EFSC Enterprises Finl Keefe Bruyette
1/18/19	Downgrades	Outperform Mkt Perform	X
EGBN Eagle Bancorp Keefe Bruyette
1/3/19	Downgrades	Outperform Mkt Perform	X
EQBK Equity Bancshares Keefe Bruyette
12/9/24	Upgrades	Mkt Perform Outperform	X
EQH Equitable Holdings Keefe Bruyette
$54 $58
12/5/23	Downgrades	Outperform Mkt Perform	X
EQH Equitable Holdings Keefe Bruyette
$34
6/4/18	Initiated	Outperform	X
EQH AXA Equitable Keefe Bruyette
$27
8/5/24	Upgrades	Mkt Perform Outperform	X
ESNT Essent Group Keefe Bruyette
$65 $70
6/13/23	Downgrades	Outperform Mkt Perform	X
ESNT Essent Group Keefe Bruyette
$50
12/13/21	Upgrades	Mkt Perform Outperform	X
ESNT Essent Group Keefe Bruyette
$51
10/2/24	Downgrades	Outperform Mkt Perform	X
ESQ Esquire Financial Keefe Bruyette
$68 $72
10/18/22	Initiated	Outperform	X
ESQ Esquire Financial Keefe Bruyette
$53
3/6/18	Upgrades	Mkt Perform Outperform	X
ETFC E*TRADE Keefe Bruyette
1/10/22	Initiated	Mkt Perform	X
EVBN Evans Bancorp Keefe Bruyette
$39
12/20/24	Upgrades	Mkt Perform Outperform	X
EVR Evercore Keefe Bruyette
$269 $339
1/29/24	Resumed	Mkt Perform	X
EVR Evercore Keefe Bruyette
10/27/22	Downgrades	Outperform Mkt Perform	X
EVR Evercore Keefe Bruyette
$106 $109
12/7/18	Initiated	Outperform	X
EVTC EVERTEC Keefe Bruyette
$32
7/20/18	Upgrades	Mkt Perform Outperform	X
EWBC East West Banc Keefe Bruyette
12/10/24	Downgrades	Outperform Mkt Perform	X
FAF First American Financial Keefe Bruyette
$80
3/21/24	Upgrades	Mkt Perform Outperform	X
FAF First American Financial Keefe Bruyette
$66 $69
12/15/22	Downgrades	Outperform Mkt Perform	X
FAF First American Financial Keefe Bruyette
$61
7/17/18	Upgrades	Mkt Perform Outperform	X
FAF First American Financial Keefe Bruyette
6/3/22	Downgrades	Outperform Mkt Perform	X
FBC Flagstar Bancorp Keefe Bruyette
$52.25 $44
6/28/18	Upgrades	Mkt Perform Outperform	X
FBC Flagstar Bancorp Keefe Bruyette
2/1/21	Upgrades	Mkt Perform Outperform	X
FBIZ First Business Financial Keefe Bruyette
$23 $26
10/19/22	Downgrades	Outperform Mkt Perform	X
FBK FB Financial Keefe Bruyette
$48 $45
7/21/21	Upgrades	Mkt Perform Outperform	X
FBK FB Financial Keefe Bruyette
$48
4/12/22	Resumed	Outperform	X
FBP First Bancorp Keefe Bruyette
$17.50
11/9/18	Upgrades	Mkt Perform Outperform	X
FCB FCB Financial Keefe Bruyette
7/28/21	Resumed	Mkt Perform	X
FCF First Commonwealth Keefe Bruyette
$16
1/14/25	Upgrades	Mkt Perform Outperform	X
FCNCA First Citizens BancShares Keefe Bruyette
$2500
12/4/24	Downgrades	Outperform Mkt Perform	X
FCNCA First Citizens BancShares Keefe Bruyette
$2100 $2500
4/19/21	Initiated	Outperform	X
FCNCA First Citizen Bancshr. NC Keefe Bruyette
$1000
12/18/18	Upgrades	Mkt Perform Outperform	X
FDEF First Defiance Financial Keefe Bruyette
7/11/22	Downgrades	Outperform Mkt Perform	X
FDUS Fidus Investment Keefe Bruyette
$22 $19.50
5/7/21	Upgrades	Mkt Perform Outperform	X
FDUS Fidus Investment Keefe Bruyette
$17.50
2/25/19	Downgrades	Outperform Mkt Perform	X
FFBC First Financial Keefe Bruyette
$31 $30
10/22/18	Upgrades	Mkt Perform Outperform	X
FFBC First Financial Keefe Bruyette
4/25/22	Downgrades	Outperform Mkt Perform	X
FHB First Hawaiian Keefe Bruyette
$34
3/14/18	Upgrades	Mkt Perform Outperform	X
FHB First Hawaiian Keefe Bruyette
6/29/22	Upgrades	Mkt Perform Outperform	X
FHI Federated Hermes Keefe Bruyette
$32 $40
7/17/24	Downgrades	Outperform Mkt Perform	X
FHN First Horizon Keefe Bruyette
$18
1/30/23	Downgrades	Outperform Mkt Perform	X
FIBK First Interstate Bancsystem Keefe Bruyette
$49 $38
5/2/22	Upgrades	Mkt Perform Outperform	X
FIBK First Interstate Bancsystem Keefe Bruyette
$45
2/11/22	Resumed	Mkt Perform	X
FIBK First Interstate Bancsystem Keefe Bruyette
$43
7/24/23	Initiated	Outperform	X
FIHL Fidelis Insurance Holdings Limited Keefe Bruyette
$17
5/29/18	Upgrades	Underperform Mkt Perform	X
FII Fed Investors Keefe Bruyette
3/17/23	Upgrades	Mkt Perform Outperform	X
FIS Fidelity Nat’l Info Keefe Bruyette
$70
9/19/22	Downgrades	Outperform Mkt Perform	X
FIS Fidelity Nat’l Info Keefe Bruyette
$120 $98
4/9/19	Initiated	Outperform	X
FIS Fidelity Nat’l Info Keefe Bruyette
$136
2/3/25	Upgrades	Mkt Perform Outperform	X
FISI Financial Inst. Keefe Bruyette
$29 $34
4/9/19	Initiated	Mkt Perform	X
FISV Fiserv Keefe Bruyette
$101
4/6/23	Upgrades	Mkt Perform Outperform	X
FITB Fifth Third Keefe Bruyette
$38 $34
7/7/21	Resumed	Mkt Perform	X
FITB Fifth Third Keefe Bruyette
$42
4/4/19	Upgrades	Mkt Perform Outperform	X
FITB Fifth Third Keefe Bruyette
$32
10/2/24	Downgrades	Outperform Mkt Perform	X
FMBH First Mid-Illinois Bancshares Keefe Bruyette
$42
12/20/21	Upgrades	Mkt Perform Outperform	X
FMBI First Midwest Banc Keefe Bruyette
$25
1/27/25	Downgrades	Mkt Perform Underperform	X
FMCC Freddie Mac Keefe Bruyette
$4 $4.50
11/20/24	Downgrades	Outperform Mkt Perform	X
FMCC Freddie Mac Keefe Bruyette
$2.50 $4
2/26/24	Upgrades	Mkt Perform Outperform	X
FMCC Freddie Mac Keefe Bruyette
$1.25 $2.50
12/15/22	Upgrades	Underperform Mkt Perform	X
FMCC Freddie Mac Keefe Bruyette
$1
12/13/22	Downgrades	Outperform Mkt Perform	X
FNB F.N.B. Corp Keefe Bruyette
$16 $15.50
10/2/23	Downgrades	Outperform Mkt Perform	X
FNF Fidelity National Keefe Bruyette
$45 $43
7/17/18	Upgrades	Mkt Perform Outperform	X
FNF Fidelity National Keefe Bruyette
1/27/25	Downgrades	Mkt Perform Underperform	X
FNMA Fannie Mae Keefe Bruyette
$3 $4
11/20/24	Downgrades	Outperform Mkt Perform	X
FNMA Fannie Mae Keefe Bruyette
$2 $3
2/26/24	Upgrades	Mkt Perform Outperform	X
FNMA Fannie Mae Keefe Bruyette
$1.25 $2
3/18/21	Downgrades	Mkt Perform Underperform	X
FNMA Fannie Mae Keefe Bruyette
$1
3/2/23	Downgrades	Outperform Mkt Perform	X
FOCS Focus Financial Keefe Bruyette
$55
7/12/19	Upgrades	Mkt Perform Outperform	X
FOCS Focus Financial Keefe Bruyette
$35.50
12/9/24	Downgrades	Outperform Mkt Perform	X
FOUR Shift4 Payments Keefe Bruyette
$112
1/16/24	Initiated	Outperform	X
FOUR Shift4 Payments Keefe Bruyette
$95
12/21/21	Resumed	Mkt Perform	X
FSBC Five Star Bancorp Keefe Bruyette
$33
7/28/21	Upgrades	Mkt Perform Outperform	X
FSBC Five Star Bancorp Keefe Bruyette
$28 $29
6/1/21	Initiated	Mkt Perform	X
FSBC Five Star Bancorp Keefe Bruyette
$28
7/25/18	Upgrades	Mkt Perform Outperform	X
GBNK Guaranty Bancorp Keefe Bruyette
6/29/23	Resumed	Mkt Perform	X
GDOT Green Dot Keefe Bruyette
$17 $20
8/8/19	Downgrades	Outperform Mkt Perform	X
GDOT Green Dot Keefe Bruyette
$60 $35
4/1/19	Upgrades	Mkt Perform Outperform	X
GDOT Green Dot Keefe Bruyette
4/28/22	Downgrades	Mkt Perform Underperform	X
GHL Greenhill Keefe Bruyette
$16.50 $12
7/14/21	Upgrades	Underperform Mkt Perform	X
GHL Greenhill Keefe Bruyette
$15.50
4/30/19	Downgrades	Mkt Perform Underperform	X
GHL Greenhill Keefe Bruyette
$23.50 $23
1/4/19	Resumed	Mkt Perform	X
GHL Greenhill Keefe Bruyette
6/7/18	Downgrades	Mkt Perform Underperform	X
GHL Greenhill Keefe Bruyette
4/24/24	Upgrades	Mkt Perform Outperform	X
GL Globe Life Keefe Bruyette
$130 $110
7/27/18	Upgrades	Mkt Perform Outperform	X
GNBC Green Bancorp Keefe Bruyette
12/10/24	Upgrades	Underperform Mkt Perform	X
GPMT Granite Point Mortgage Keefe Bruyette
$3 $3.25
12/15/22	Downgrades	Mkt Perform Underperform	X
GPMT Granite Point Mortgage Keefe Bruyette
$6
2/27/25	Downgrades	Outperform Mkt Perform	X
GS Goldman Sachs Keefe Bruyette
$690 $660
10/7/22	Upgrades	Mkt Perform Outperform	X
GS Goldman Sachs Keefe Bruyette
$395 $429
7/7/21	Resumed	Mkt Perform	X
GS Goldman Sachs Keefe Bruyette
$391
7/26/19	Upgrades	Mkt Perform Outperform	X
GS Goldman Sachs Keefe Bruyette
$225 $260
4/15/21	Upgrades	Mkt Perform Outperform	X
GSHD Goosehead Insurance Keefe Bruyette
$130
5/22/18	Initiated	Outperform	X
GSHD Goosehead Insurance Keefe Bruyette
$20
12/4/24	Downgrades	Outperform Mkt Perform	X
HAFC Hanmi Financial Keefe Bruyette
$24 $29
10/2/24	Upgrades	Mkt Perform Outperform	X
HAFC Hanmi Financial Keefe Bruyette
$20 $22
4/6/23	Upgrades	Underperform Mkt Perform	X
HBAN Huntington Banc Keefe Bruyette
$13.50 $13
6/3/22	Downgrades	Mkt Perform Underperform	X
HBAN Huntington Banc Keefe Bruyette
$17 $15
7/7/21	Resumed	Mkt Perform	X
HBAN Huntington Banc Keefe Bruyette
$15
7/15/21	Upgrades	Mkt Perform Outperform	X
HBMD Howard Bank Keefe Bruyette
$17 $28
6/15/18	Initiated	Mkt Perform	X
HBMD Howard Bank Keefe Bruyette
10/28/22	Downgrades	Outperform Mkt Perform	X
HBNC Horizon Bancorp Keefe Bruyette
$23 $18
3/11/19	Upgrades	Underperform Mkt Perform	X
HCI HCI Group Keefe Bruyette
$52 $42
12/13/18	Downgrades	Mkt Perform Underperform	X
HCI HCI Group Keefe Bruyette
4/24/23	Downgrades	Outperform Mkt Perform	X
HFWA Heritage Financial Corp. Keefe Bruyette
$31 $23
7/26/18	Downgrades	Outperform Mkt Perform	X
HFWA Heritage Financial Corp. Keefe Bruyette
3/12/18	Upgrades	Mkt Perform Outperform	X
HFWA Heritage Financial Corp. Keefe Bruyette
7/22/24	Downgrades	Outperform Mkt Perform	X
HIPO Hippo Keefe Bruyette
$22 $20
11/17/22	Initiated	Outperform	X
HIPO Hippo Keefe Bruyette
$24
1/8/25	Initiated	Outperform	X
HIVE HIVE Digital Technologies Keefe Bruyette
1/29/24	Resumed	Mkt Perform	X
HLI Houlihan Lokey Keefe Bruyette
10/29/21	Upgrades	Underperform Mkt Perform	X
HLI Houlihan Lokey Keefe Bruyette
$86 $110
7/14/21	Downgrades	Mkt Perform Underperform	X
HLI Houlihan Lokey Keefe Bruyette
$80
1/4/19	Resumed	Outperform	X
HLI Houlihan Lokey Keefe Bruyette
7/11/19	Downgrades	Mkt Perform Underperform	X
HLNE Hamilton Lane Keefe Bruyette
$49 $53
11/12/24	Downgrades	Outperform Mkt Perform	X
HMN Horace Mann Keefe Bruyette
$39 $44
1/29/24	Upgrades	Mkt Perform Outperform	X
HMN Horace Mann Keefe Bruyette
$33 $40
1/31/23	Downgrades	Outperform Mkt Perform	X
HMST HomeStreet Keefe Bruyette
$38 $29
12/13/22	Downgrades	Outperform Mkt Perform	X
HOMB Home Bancshares Keefe Bruyette
$28
4/3/24	Initiated	Mkt Perform	X
HOOD Robinhood Markets Keefe Bruyette
$20
2/28/23	Downgrades	Outperform Mkt Perform	X
HOUS Anywhere Real Estate Keefe Bruyette
$12 $7
12/20/22	Downgrades	Mkt Perform Underperform	X
HRZN Horizon Technology Finance Keefe Bruyette
$11.50 $10.50
1/25/19	Downgrades	Outperform Mkt Perform	X
HSBC HSBC Holdings Keefe Bruyette
9/11/18	Upgrades	Mkt Perform Outperform	X
HSBC HSBC Holdings Keefe Bruyette
2/21/24	Upgrades	Mkt Perform Outperform	X
HTBI HomeTrust Bank Keefe Bruyette
$32
3/14/18	Upgrades	Mkt Perform Outperform	X
HTBK Heritage Commerce Corp. Keefe Bruyette
12/12/24	Upgrades	Mkt Perform Outperform	X
HTGC Hercules Capital Keefe Bruyette
$19.50 $21.50
8/4/23	Upgrades	Underperform Mkt Perform	X
HTGC Hercules Capital Keefe Bruyette
$13.50 $17
3/13/23	Downgrades	Mkt Perform Underperform	X
HTGC Hercules Capital Keefe Bruyette
$14.50 $10.50
4/22/22	Downgrades	Outperform Mkt Perform	X
HTGC Hercules Capital Keefe Bruyette
$18
3/13/19	Downgrades	Outperform Mkt Perform	X
HTGC Hercules Capital Keefe Bruyette
$14 $11.50
5/31/24	Upgrades	Mkt Perform Outperform	X
HTLF Heartland Financial Keefe Bruyette
$54
12/13/22	Downgrades	Outperform Mkt Perform	X
HTLF Heartland Financial Keefe Bruyette
$54
1/8/25	Initiated	Outperform	X
HUT Hut 8 Mining Keefe Bruyette
5/31/24	Upgrades	Mkt Perform Outperform	X
HWC Hancock Whitney Keefe Bruyette
$55
3/14/23	Downgrades	Outperform Mkt Perform	X
HWC Hancock Whitney Keefe Bruyette
$60 $50
12/13/22	Downgrades	Outperform Mkt Perform	X
IBCP Independent Bank Keefe Bruyette
$26
7/11/24	Downgrades	Outperform Mkt Perform	X
IBKR Interactive Brokers Keefe Bruyette
$128 $135
1/19/22	Upgrades	Mkt Perform Outperform	X
IBKR Interactive Brokers Keefe Bruyette
$90
10/21/22	Downgrades	Outperform Mkt Perform	X
INBK First Internet Bancorp Keefe Bruyette
$42 $30
12/13/22	Downgrades	Outperform Mkt Perform	X
INDB Independent Bank Keefe Bruyette
$100
7/23/18	Upgrades	Mkt Perform Outperform	X
INDB Independent Bank Keefe Bruyette
7/19/19	Downgrades	Outperform Mkt Perform	X
INVH Invitation Homes Keefe Bruyette
$28.50
4/26/21	Initiated	Mkt Perform	X
ISBC Investors Bancorp Keefe Bruyette
$16
8/10/18	Downgrades	Outperform Mkt Perform	X
IVR Invesco Mortgage Capital Keefe Bruyette
12/14/23	Upgrades	Mkt Perform Outperform	X
IVZ Invesco Keefe Bruyette
$15.50 $20
4/12/22	Downgrades	Outperform Mkt Perform	X
IVZ Invesco Keefe Bruyette
$25
7/13/18	Downgrades	Outperform Mkt Perform	X
IVZ Invesco Keefe Bruyette
12/22/22	Downgrades	Outperform Mkt Perform	X
JEF Jefferies Keefe Bruyette
$38 $37
9/6/22	Upgrades	Mkt Perform Outperform	X
JEF Jefferies Keefe Bruyette
$30 $38
11/16/21	Downgrades	Outperform Mkt Perform	X
JEF Jefferies Keefe Bruyette
$46
7/11/19	Resumed	Mkt Perform	X
JEF Jefferies Keefe Bruyette
$23
6/29/22	Downgrades	Mkt Perform Underperform	X
JHG Janus Henderson Group Keefe Bruyette
$28 $22
4/9/19	Initiated	Mkt Perform	X
JKHY Jack Henry Keefe Bruyette
12/10/24	Upgrades	Mkt Perform Outperform	X
JLL Jones Lang LaSalle Keefe Bruyette
$292 $325
4/17/19	Upgrades	Mkt Perform Outperform	X
JLL Jones Lang LaSalle Keefe Bruyette
7/7/21	Resumed	Mkt Perform	X
JPM JPMorgan Chase Keefe Bruyette
$167
2/13/18	Upgrades	Mkt Perform Outperform	X
JPM JPMorgan Chase Keefe Bruyette
11/9/23	Downgrades	Outperform Mkt Perform	X
JRVR James River Group Keefe Bruyette
$22 $14
11/12/21	Upgrades	Mkt Perform Outperform	X
JRVR James River Group Keefe Bruyette
$39 $35
11/12/18	Downgrades	Outperform Mkt Perform	X
JRVR James River Group Keefe Bruyette
3/15/18	Upgrades	Mkt Perform Outperform	X
JRVR James River Group Keefe Bruyette
11/6/23	Upgrades	Mkt Perform Outperform	X
KEY KeyCorp Keefe Bruyette
$12.50 $15
7/7/21	Resumed	Mkt Perform	X
KEY KeyCorp Keefe Bruyette
$21
11/2/18	Initiated	Mkt Perform	X
KMPR Kemper Keefe Bruyette
9/5/24	Upgrades	Mkt Perform Outperform	X
KREF KKR Real Estate Finance Trust Keefe Bruyette
$11.50 $13
12/10/18	Upgrades	Mkt Perform Outperform	X
KREF KKR Real Estate Finance Trust Keefe Bruyette
4/4/19	Upgrades	Underperform Mkt Perform	X
KRNY Kearny Financial Keefe Bruyette
$11.50 $12.50
12/20/24	Downgrades	Outperform Mkt Perform	X
LAZ Lazard Keefe Bruyette
$65 $57
1/29/24	Resumed	Outperform	X
LAZ Lazard Keefe Bruyette
$51
7/13/23	Upgrades	Underperform Mkt Perform	X
LAZ Lazard Keefe Bruyette
$31 $36
7/13/22	Downgrades	Mkt Perform Underperform	X
LAZ Lazard Keefe Bruyette
$38 $30
2/4/22	Downgrades	Outperform Mkt Perform	X
LAZ Lazard Keefe Bruyette
$52 $49
10/1/21	Upgrades	Mkt Perform Outperform	X
LAZ Lazard Keefe Bruyette
$53 $58
1/14/21	Downgrades	Outperform Mkt Perform	X
LAZ Lazard Keefe Bruyette
$50
1/4/19	Resumed	Mkt Perform	X
LAZ Lazard Keefe Bruyette
11/21/22	Upgrades	Mkt Perform Outperform	X
LBC Luther Burbank Keefe Bruyette
10/10/24	Upgrades	Mkt Perform Outperform	X
LC Lending Club Keefe Bruyette
$11.50 $15
3/11/25	Downgrades	Outperform Mkt Perform	X
LEN Lennar Keefe Bruyette
$152 $141
5/15/18	Initiated	Outperform	X
LEVL Level One Bancorp Keefe Bruyette
$34
11/7/24	Downgrades	Mkt Perform Underperform	X
LMND Lemonade Keefe Bruyette
$18 $21
11/17/22	Initiated	Mkt Perform	X
LMND Lemonade Keefe Bruyette
$24
11/5/18	Upgrades	Mkt Perform Outperform	X
LNC Lincoln National Keefe Bruyette
4/19/18	Downgrades	Outperform Mkt Perform	X
LTXB LegacyTexas Group Keefe Bruyette
3/11/25	Downgrades	Outperform Mkt Perform	X
LYG Lloyds Banking Keefe Bruyette
3/29/21	Upgrades	Underperform Mkt Perform	X
LYG Lloyds Banking Keefe Bruyette
5/28/19	Downgrades	Outperform Mkt Perform	X
LYG Lloyds Banking Keefe Bruyette
1/24/19	Upgrades	Underperform Outperform	X
LYG Lloyds Banking Keefe Bruyette
11/18/24	Upgrades	Mkt Perform Outperform	X
MBI MBIA Keefe Bruyette
$6.50 $9
2/5/18	Initiated	Mkt Perform	X
MBI MBIA Keefe Bruyette
$7
10/11/18	Upgrades	Mkt Perform Outperform	X
MBTF MBT Financial Keefe Bruyette
7/12/18	Initiated	Mkt Perform	X
MBTF MBT Financial Keefe Bruyette
3/1/18	Upgrades	Mkt Perform Outperform	X
MBWM Mercantile Bank Keefe Bruyette
12/20/24	Upgrades	Mkt Perform Outperform	X
MC Moelis Keefe Bruyette
$71 $86
1/29/24	Resumed	Mkt Perform	X
MC Moelis Keefe Bruyette
$56
11/3/22	Downgrades	Mkt Perform Underperform	X
MC Moelis Keefe Bruyette
$40 $37
12/17/21	Upgrades	Mkt Perform Outperform	X
MC Moelis Keefe Bruyette
$77
7/31/19	Downgrades	Outperform Mkt Perform	X
MC Moelis Keefe Bruyette
$42 $39
1/4/19	Resumed	Outperform	X
MC Moelis Keefe Bruyette
4/29/24	Upgrades	Mkt Perform Outperform	X
MCBC Macatawa Bank Corporation Keefe Bruyette
$12 $15
12/13/23	Upgrades	Mkt Perform Outperform	X
MFA MFA Financial Keefe Bruyette
$11.25 $12
7/18/22	Downgrades	Outperform Mkt Perform	X
MFA MFA Financial Keefe Bruyette
$12.75
4/13/21	Upgrades	Mkt Perform Outperform	X
MFA MFA Financial Keefe Bruyette
5/17/19	Upgrades	Mkt Perform Outperform	X
MFA MFA Financial Keefe Bruyette
8/5/24	Upgrades	Mkt Perform Outperform	X
MFIC MidCap Financial Investment Corporation Keefe Bruyette
$15
7/18/22	Downgrades	Outperform Mkt Perform	X
MITT AG Mortgage Investment Trust Keefe Bruyette
$8.50
10/11/21	Upgrades	Mkt Perform Outperform	X
MITT AG Mortgage Investment Trust Keefe Bruyette
$12.50 $13.75
2/22/21	Upgrades	Underperform Mkt Perform	X
MITT AG Mortgage Investment Trust Keefe Bruyette
$3 $4
4/12/18	Downgrades	Outperform Mkt Perform	X
MKTX Marketaxess Keefe Bruyette
12/15/23	Downgrades	Mkt Perform Underperform	X
MMC Marsh McLennan Keefe Bruyette
$198 $192
6/12/19	Downgrades	Outperform Mkt Perform	X
MMC Marsh McLennan Keefe Bruyette
$100 $99
12/17/24	Upgrades	Mkt Perform Outperform	X
MOFG MidWestOne Financial Group Keefe Bruyette
$34 $39
12/13/22	Downgrades	Outperform Mkt Perform	X
MOFG MidWestOne Financial Group Keefe Bruyette
$37
8/7/19	Upgrades	Mkt Perform Outperform	X
MRBK Meridian Bank Keefe Bruyette
1/17/24	Downgrades	Outperform Mkt Perform	X
MS Morgan Stanley Keefe Bruyette
$102 $91
7/7/21	Resumed	Outperform	X
MS Morgan Stanley Keefe Bruyette
$115
2/7/25	Initiated	Outperform	X
MSTR MicroStrategy d/b/a Strategy Keefe Bruyette
$560
12/7/22	Downgrades	Outperform Mkt Perform	X
MTB M&T Bank Keefe Bruyette
$215 $180
7/7/21	Resumed	Outperform	X
MTB M&T Bank Keefe Bruyette
$181
9/4/18	Upgrades	Mkt Perform Outperform	X
MTB M&T Bank Keefe Bruyette
12/10/24	Downgrades	Outperform Mkt Perform	X
MTG MGIC Investment Keefe Bruyette
$29 $29
6/3/24	Upgrades	Mkt Perform Outperform	X
MTG MGIC Investment Keefe Bruyette
$24 $25
4/4/24	Downgrades	Outperform Mkt Perform	X
MTG MGIC Investment Keefe Bruyette
$23.50 $24
5/7/18	Downgrades	Outperform Mkt Perform	X
MTGE MTGE Investment Keefe Bruyette
7/9/18	Upgrades	Mkt Perform Outperform	X
MUFG Mitsubishi Financial Keefe Bruyette
8/13/18	Initiated	Outperform	X
MYFW First Western Keefe Bruyette
$24
5/9/18	Upgrades	Underperform Mkt Perform	X
NAVG Navigators Group Keefe Bruyette
7/6/21	Downgrades	Outperform Mkt Perform	X
NAVI Navient Keefe Bruyette
$20
11/21/24	Initiated	Mkt Perform	X
NBN Northeast Bancorp Keefe Bruyette
$102
1/10/22	Resumed	Mkt Perform	X
NBTB NBT Bancorp Keefe Bruyette
$44
4/9/24	Initiated	Outperform	X
NCNO nCino Keefe Bruyette
$41
2/9/21	Resumed	Mkt Perform	X
NEWT Newtek Keefe Bruyette
$21
6/4/18	Downgrades	Outperform Mkt Perform	X
NGHC National General Keefe Bruyette
7/20/23	Downgrades	Outperform Mkt Perform	X
NIC Nicolet Bankshares Keefe Bruyette
$74 $81
6/9/22	Upgrades	Mkt Perform Outperform	X
NLY Annaly Capital Mgmt Keefe Bruyette
$6.25 $6.75
6/7/21	Downgrades	Outperform Mkt Perform	X
NLY Annaly Capital Mgmt Keefe Bruyette
$9.50
1/14/19	Upgrades	Mkt Perform Outperform	X
NLY Annaly Capital Mgmt Keefe Bruyette
2/24/25	Upgrades	Mkt Perform Outperform	X
NMIH NMI Hldgs Keefe Bruyette
$43
10/17/22	Downgrades	Outperform Mkt Perform	X
NMIH NMI Hldgs Keefe Bruyette
$25 $23
12/13/21	Upgrades	Mkt Perform Outperform	X
NMIH NMI Hldgs Keefe Bruyette
11/5/18	Upgrades	Mkt Perform Outperform	X
NMIH NMI Hldgs Keefe Bruyette
8/6/18	Downgrades	Outperform Mkt Perform	X
NMIH NMI Hldgs Keefe Bruyette
9/5/24	Upgrades	Mkt Perform Outperform	X
NMRK Newmark Group Keefe Bruyette
$13.50 $16.50
12/13/23	Downgrades	Outperform Mkt Perform	X
NREF NexPoint Real Estate Finance Keefe Bruyette
7/30/18	Upgrades	Mkt Perform Outperform	X
NSM Nationstar Mortgage Keefe Bruyette
10/2/24	Downgrades	Outperform Mkt Perform	X
NTB Bank of N.T. Butterfield & Son Keefe Bruyette
$44 $41
7/8/19	Downgrades	Outperform Mkt Perform	X
NTB Bank of N.T. Butterfield & Son Keefe Bruyette
$51 $41
1/11/22	Upgrades	Mkt Perform Outperform	X
NTRS Northern Trust Keefe Bruyette
$130 $152
6/17/21	Downgrades	Outperform Mkt Perform	X
NTRS Northern Trust Keefe Bruyette
$128
1/22/21	Upgrades	Mkt Perform Outperform	X
NTRS Northern Trust Keefe Bruyette
$100 $120
7/27/21	Resumed	Mkt Perform	X
NWBI Northwest Bancshares Keefe Bruyette
$13.50
12/18/23	Downgrades	Outperform Mkt Perform	X
NYCB New York Community Keefe Bruyette
$14 $12
3/20/23	Upgrades	Mkt Perform Outperform	X
NYCB New York Community Keefe Bruyette
$10 $11
6/3/22	Downgrades	Outperform Mkt Perform	X
NYCB New York Community Keefe Bruyette
$11
7/18/22	Downgrades	Outperform Mkt Perform	X
NYMT New York Mortgage Trust Keefe Bruyette
$3
4/27/18	Downgrades	Outperform Mkt Perform	X
OAK Oaktree Capital Keefe Bruyette
12/12/24	Downgrades	Mkt Perform Underperform	X
OBDC Blue Owl Capital Keefe Bruyette
$15.50 $14
1/29/21	Upgrades	Mkt Perform Outperform	X
OBNK Origin Bancorp Keefe Bruyette
5/31/24	Downgrades	Outperform Mkt Perform	X
OCFC OceanFirst Finl Keefe Bruyette
$18
7/30/21	Resumed	Outperform	X
OCFC OceanFirst Finl Keefe Bruyette
$26
7/29/19	Downgrades	Outperform Mkt Perform	X
OCFC OceanFirst Finl Keefe Bruyette
$29 $26.50
2/2/24	Downgrades	Outperform Mkt Perform	X
OCSL Oaktree Specialty Lending Corp Keefe Bruyette
$22 $19
8/21/18	Upgrades	Mkt Perform Outperform	X
OCSL Oaktree Specialty Lending Corp Keefe Bruyette
4/12/22	Resumed	Outperform	X
OFG OFG Bancorp Keefe Bruyette
$35
12/20/21	Upgrades	Mkt Perform Outperform	X
ONB Old National Bancorp Keefe Bruyette
$22
8/6/24	Upgrades	Underperform Mkt Perform	X
OPAD Offerpad Solutions Keefe Bruyette
12/14/22	Downgrades	Mkt Perform Underperform	X
OPAD Offerpad Solutions Keefe Bruyette
$0.60 $0.40
6/3/22	Downgrades	Outperform Mkt Perform	X
OPBK OP Bancorp Keefe Bruyette
$18.50 $15
2/8/21	Upgrades	Mkt Perform Outperform	X
OPBK OP Bancorp Keefe Bruyette
$9.50 $11
12/13/23	Upgrades	Underperform Mkt Perform	X
OPEN Opendoor Technologies Keefe Bruyette
$3.50
3/14/23	Downgrades	Outperform Mkt Perform	X
OPRT Oportun Financial Keefe Bruyette
$9 $4
8/12/19	Initiated	Mkt Perform	X
ORCC Owl Rock Capital Keefe Bruyette
$16
1/3/23	Downgrades	Outperform Mkt Perform	X
OWL Blue Owl Capital Keefe Bruyette
$13
1/22/21	Upgrades	Mkt Perform Outperform	X
PACW PacWest Bancorp Keefe Bruyette
$30 $40
2/25/19	Downgrades	Outperform Mkt Perform	X
PACW PacWest Bancorp Keefe Bruyette
$50 $45
2/17/21	Initiated	Outperform	X
PAX Patria Investments Keefe Bruyette
$27
12/9/24	Downgrades	Outperform Mkt Perform	X
PAYO Payoneer Keefe Bruyette
$12
6/20/18	Upgrades	Mkt Perform Outperform	X
PBCT People’s United Financial Keefe Bruyette
12/13/22	Downgrades	Outperform Mkt Perform	X
PFC Premier Financial Keefe Bruyette
$32
6/9/23	Upgrades	Underperform Mkt Perform	X
PFG Principal Fincl Keefe Bruyette
$77 $75
10/31/22	Downgrades	Mkt Perform Underperform	X
PFG Principal Fincl Keefe Bruyette
$75 $77
8/11/22	Downgrades	Outperform Mkt Perform	X
PFHD Professional Holding Corp Keefe Bruyette
$27 $35.50
5/7/21	Upgrades	Mkt Perform Outperform	X
PFHD Professional Holding Corp Keefe Bruyette
$21 $22
5/9/19	Downgrades	Outperform Mkt Perform	X
PFLT PennantPark Floating Rate Capital Keefe Bruyette
$14 $13
8/15/24	Upgrades	Mkt Perform Outperform	X
PFS Provident Finl Keefe Bruyette
$20 $21
7/22/24	Downgrades	Outperform Mkt Perform	X
PFSI PennyMac Keefe Bruyette
$102
4/9/24	Upgrades	Mkt Perform Outperform	X
PFSI PennyMac Keefe Bruyette
$100 $105
1/10/24	Downgrades	Outperform Mkt Perform	X
PFSI PennyMac Keefe Bruyette
10/2/23	Upgrades	Mkt Perform Outperform	X
PFSI PennyMac Keefe Bruyette
$77 $81
4/6/21	Downgrades	Outperform Mkt Perform	X
PFSI PennyMac Keefe Bruyette
$77 $73
5/7/18	Upgrades	Mkt Perform Outperform	X
PFSI PennyMac Keefe Bruyette
7/17/24	Upgrades	Mkt Perform Outperform	X
PGR Progressive Keefe Bruyette
$210 $245
6/24/22	Upgrades	Underperform Mkt Perform	X
PGR Progressive Keefe Bruyette
$96 $107
12/16/21	Downgrades	Mkt Perform Underperform	X
PGR Progressive Keefe Bruyette
$95 $92
5/17/18	Downgrades	Outperform Mkt Perform	X
PGR Progressive Keefe Bruyette
4/30/18	Downgrades	Outperform Mkt Perform	X
PJC Piper Jaffray Keefe Bruyette
1/29/24	Resumed	Mkt Perform	X
PJT PJT Partners Keefe Bruyette
$101
11/16/21	Downgrades	Outperform Mkt Perform	X
PJT PJT Partners Keefe Bruyette
$92
3/26/21	Initiated	Outperform	X
PJT PJT Partners Keefe Bruyette
$85
5/16/23	Upgrades	Mkt Perform Outperform	X
PLMR Palomar Holdings Keefe Bruyette
$59 $64
10/12/22	Downgrades	Outperform Mkt Perform	X
PLMR Palomar Holdings Keefe Bruyette
$88 $90
5/13/19	Initiated	Outperform	X
PLMR Palomar Holdings Keefe Bruyette
$24
3/24/21	Upgrades	Mkt Perform Outperform	X
PMBC Pacific Mercantile Bancorp Keefe Bruyette
$12
2/25/19	Downgrades	Outperform Mkt Perform	X
PMBC Pacific Mercantile Bancorp Keefe Bruyette
$9.50 $9
7/10/24	Upgrades	Mkt Perform Outperform	X
PMT PennyMac Mortgage Keefe Bruyette
$15 $15.50
11/9/21	Downgrades	Outperform Mkt Perform	X
PMT PennyMac Mortgage Keefe Bruyette
$21 $19.75
2/25/19	Upgrades	Mkt Perform Outperform	X
PMT PennyMac Mortgage Keefe Bruyette
$22 $23
4/6/23	Downgrades	Mkt Perform Underperform	X
PNC PNC Keefe Bruyette
$157 $125
7/7/21	Resumed	Mkt Perform	X
PNC PNC Keefe Bruyette
$193
12/4/24	Downgrades	Outperform Mkt Perform	X
PNFP Pinnacle Finl Keefe Bruyette
$115 $135
2/16/18	Upgrades	Mkt Perform Outperform	X
PNFP Pinnacle Finl Keefe Bruyette
2/9/23	Downgrades	Outperform Mkt Perform	X
PNNT PennantPark Investment Keefe Bruyette
$7 $5.50
5/20/19	Downgrades	Mkt Perform Underperform	X
PRA ProAssurance Keefe Bruyette
$33
7/25/22	Downgrades	Outperform Mkt Perform	X
PRCH Porch Group Keefe Bruyette
$5.25 $3.25
1/16/25	Upgrades	Mkt Perform Outperform	X
PRTH Priority Technology Holdings Keefe Bruyette
$10 $14
10/16/23	Initiated	Mkt Perform	X
PRTH Priority Technology Holdings Keefe Bruyette
$4.50
1/29/24	Resumed	Outperform	X
PWP Perella Weinberg Partners Keefe Bruyette
$16
9/26/22	Downgrades	Outperform Mkt Perform	X
PWP Perella Weinberg Partners Keefe Bruyette
3/1/24	Downgrades	Outperform Mkt Perform	X
PX P10, Inc. Keefe Bruyette
$12 $10
11/15/21	Initiated	Outperform	X
PX P10, Inc. Keefe Bruyette
$18
5/1/19	Downgrades	Outperform Underperform	X
RBS Royal Bank of Scotland Keefe Bruyette
3/4/24	Downgrades	Mkt Perform Underperform	X
RC Ready Capital Keefe Bruyette
$10 $8
12/15/22	Downgrades	Outperform Mkt Perform	X
RC Ready Capital Keefe Bruyette
$13
4/22/21	Upgrades	Mkt Perform Outperform	X
RC Ready Capital Keefe Bruyette
$15.50
6/3/24	Upgrades	Mkt Perform Outperform	X
RDN Radian Group Keefe Bruyette
$35 $36
4/4/24	Downgrades	Outperform Mkt Perform	X
RDN Radian Group Keefe Bruyette
$36 $35
12/13/23	Upgrades	Mkt Perform Outperform	X
RDN Radian Group Keefe Bruyette
$29
6/13/23	Downgrades	Outperform Mkt Perform	X
RDN Radian Group Keefe Bruyette
$27.50
10/17/22	Upgrades	Mkt Perform Outperform	X
RDN Radian Group Keefe Bruyette
$27 $25
7/18/22	Downgrades	Outperform Mkt Perform	X
RDN Radian Group Keefe Bruyette
$28 $27
10/31/24	Upgrades	Mkt Perform Outperform	X
RF Regions Fincl Keefe Bruyette
$27 $28
6/3/22	Upgrades	Underperform Mkt Perform	X
RF Regions Fincl Keefe Bruyette
$24 $26
7/7/21	Resumed	Underperform	X
RF Regions Fincl Keefe Bruyette
$18
1/8/21	Upgrades	Mkt Perform Outperform	X
RF Regions Fincl Keefe Bruyette
7/30/18	Upgrades	Mkt Perform Outperform	X
RGA Reinsurance Group of America Keefe Bruyette
1/8/25	Initiated	Outperform	X
RIOT Riot Platforms Keefe Bruyette
12/19/22	Downgrades	Outperform Mkt Perform	X
RJF Raymond James Keefe Bruyette
$130 $120
2/27/18	Upgrades	Mkt Perform Outperform	X
RJF Raymond James Keefe Bruyette
12/10/24	Downgrades	Mkt Perform Underperform	X
RKT Rocket Companies Keefe Bruyette
$16 $11.50
8/5/24	Upgrades	Underperform Mkt Perform	X
RKT Rocket Companies Keefe Bruyette
1/3/24	Downgrades	Mkt Perform Underperform	X
RKT Rocket Companies Keefe Bruyette
$10.75
8/7/23	Upgrades	Underperform Mkt Perform	X
RKT Rocket Companies Keefe Bruyette
$11.50
8/8/22	Downgrades	Mkt Perform Underperform	X
RKT Rocket Companies Keefe Bruyette
$6.50
5/16/22	Upgrades	Underperform Mkt Perform	X
RKT Rocket Companies Keefe Bruyette
$10 $7
10/19/21	Upgrades	Mkt Perform Outperform	X
RLI RLI Corp Keefe Bruyette
$109 $120
12/10/18	Upgrades	Mkt Perform Outperform	X
RNR RenaissanceRe Keefe Bruyette
2/26/24	Upgrades	Mkt Perform Outperform	X
ROOT Root, Inc. Keefe Bruyette
$10 $22
7/10/19	Initiated	Outperform	X
RP RealPage Keefe Bruyette
$74
8/10/22	Downgrades	Outperform Mkt Perform	X
RPAY Repay Holdings Keefe Bruyette
$21 $13
4/9/24	Initiated	Mkt Perform	X
RSKD Riskified Keefe Bruyette
$5.75
12/1/22	Upgrades	Underperform Mkt Perform	X
RY Royal Bank of Canada Keefe Bruyette
3/23/18	Upgrades	Mkt Perform Outperform	X
SAN Banco Santander Keefe Bruyette
4/22/22	Downgrades	Outperform Mkt Perform	X
SASR Sandy Spring Banc Keefe Bruyette
$53 $50
1/18/19	Downgrades	Outperform Mkt Perform	X
SASR Sandy Spring Banc Keefe Bruyette
4/24/18	Upgrades	Mkt Perform Outperform	X
SASR Sandy Spring Banc Keefe Bruyette
2/27/18	Downgrades	Outperform Mkt Perform	X
SBBX Sussex Bancorp Keefe Bruyette
5/31/24	Upgrades	Mkt Perform Outperform	X
SBCF Seacoast Banking Keefe Bruyette
$27
10/19/22	Downgrades	Outperform Mkt Perform	X
SBNY Signature Bank Keefe Bruyette
$185
7/8/24	Upgrades	Mkt Perform Outperform	X
SCHW Charles Schwab Keefe Bruyette
$76 $84
1/18/24	Downgrades	Outperform Mkt Perform	X
SCHW Charles Schwab Keefe Bruyette
$75 $70
7/12/19	Downgrades	Outperform Mkt Perform	X
SCHW Charles Schwab Keefe Bruyette
4/15/19	Downgrades	Outperform Mkt Perform	X
SEIC SEI Investments Keefe Bruyette
$56 $64
10/24/18	Upgrades	Mkt Perform Outperform	X
SEIC SEI Investments Keefe Bruyette
12/4/24	Upgrades	Mkt Perform Outperform	X
SHBI Shore Bancshares Keefe Bruyette
$16 $20
12/13/22	Downgrades	Outperform Mkt Perform	X
SHBI Shore Bancshares Keefe Bruyette
$22
3/8/21	Upgrades	Mkt Perform Outperform	X
SHBI Shore Bancshares Keefe Bruyette
$15 $20
2/4/19	Downgrades	Outperform Mkt Perform	X
SHBI Shore Bancshares Keefe Bruyette
3/1/23	Downgrades	Outperform Mkt Perform	X
SI Silvergate Capital Keefe Bruyette
$25 $16
11/8/21	Downgrades	Outperform Mkt Perform	X
SI Silvergate Capital Keefe Bruyette
$200
2/7/25	Downgrades	Outperform Mkt Perform	X
SIGI Selective Insurance Keefe Bruyette
$116 $93
7/22/24	Upgrades	Mkt Perform Outperform	X
SIGI Selective Insurance Keefe Bruyette
$104 $99
7/8/19	Downgrades	Outperform Mkt Perform	X
SIVB SVB Financial Group Keefe Bruyette
$300 $255
2/7/23	Initiated	Outperform	X
SKWD Skyward Specialty Insurance Group Keefe Bruyette
$24
12/9/24	Downgrades	Outperform Mkt Perform	X
SLM Sallie Mae Keefe Bruyette
$27 $30
7/11/22	Downgrades	Outperform Mkt Perform	X
SLRC SLR Capital Partners Keefe Bruyette
$18.50 $16.50
4/10/18	Initiated	Mkt Perform	X
SMBK SmartFinancial Keefe Bruyette
$26
8/8/24	Downgrades	Outperform Mkt Perform	X
SMRT SmartRent Keefe Bruyette
4/19/24	Downgrades	Outperform Mkt Perform	X
SNV Synovus Keefe Bruyette
$46 $38
11/9/18	Upgrades	Mkt Perform Outperform	X
SNV Synovus Keefe Bruyette
1/2/25	Downgrades	Mkt Perform Underperform	X
SOFI SoFi Technologies Keefe Bruyette
$7 $8
1/3/24	Downgrades	Mkt Perform Underperform	X
SOFI SoFi Technologies Keefe Bruyette
$7.50 $6.50
10/19/23	Upgrades	Underperform Mkt Perform	X
SOFI SoFi Technologies Keefe Bruyette
$7.50
8/1/23	Downgrades	Mkt Perform Underperform	X
SOFI SoFi Technologies Keefe Bruyette
$5.50 $7
6/3/19	Initiated	Outperform	X
SPFI South Plains Financial Keefe Bruyette
$22
4/10/23	Downgrades	Outperform Mkt Perform	X
SQ Block Keefe Bruyette
$90 $75
3/31/21	Upgrades	Mkt Perform Outperform	X
SQ Square Keefe Bruyette
$250
6/3/22	Upgrades	Mkt Perform Outperform	X
SSB South State Keefe Bruyette
$94 $100
4/25/18	Downgrades	Outperform Mkt Perform	X
SSB South State Keefe Bruyette
3/15/24	Upgrades	Mkt Perform Outperform	X
SSBK Southern States Bancshares Keefe Bruyette
$32 $35
10/7/22	Downgrades	Outperform Mkt Perform	X
SSBK Southern States Bancshares Keefe Bruyette
$27
7/13/21	Resumed	Mkt Perform	X
STBA S&T Bancorp Keefe Bruyette
$35
11/9/18	Upgrades	Mkt Perform Outperform	X
STBZ State Bank Financial Keefe Bruyette
6/27/23	Downgrades	Outperform Mkt Perform	X
STC Stewart Info Keefe Bruyette
$48 $45
7/17/23	Downgrades	Outperform Mkt Perform	X
STT State Street Keefe Bruyette
$84 $73
2/25/19	Downgrades	Mkt Perform Underperform	X
STT State Street Keefe Bruyette
$72 $70
8/3/18	Downgrades	Outperform Mkt Perform	X
STT State Street Keefe Bruyette
9/5/24	Upgrades	Mkt Perform Outperform	X
STWD Starwood Property Trust Keefe Bruyette
$20.50 $22.50
2/11/25	Initiated	Outperform	X
SUNS Sunrise Realty Trust Keefe Bruyette
$12.75
10/28/21	Downgrades	Outperform Mkt Perform	X
SYBT Stock Yards Bancorp Keefe Bruyette
$59 $67
1/28/21	Upgrades	Mkt Perform Outperform	X
SYBT Stock Yards Bancorp Keefe Bruyette
$43 $51
5/2/24	Upgrades	Mkt Perform Outperform	X
SYF Synchrony Financial Keefe Bruyette
$45 $62
3/17/23	Downgrades	Outperform Mkt Perform	X
SYF Synchrony Financial Keefe Bruyette
$46 $32
1/12/22	Initiated	Outperform	X
TBBK The Bancorp Keefe Bruyette
$40
3/30/21	Upgrades	Mkt Perform Outperform	X
TCBI Texas Capital Keefe Bruyette
$86
3/14/18	Upgrades	Mkt Perform Outperform	X
TCBK TriCo Bancshares Keefe Bruyette
1/29/25	Downgrades	Outperform Mkt Perform	X
TCBX Third Coast Bancshares Keefe Bruyette
$40 $42
1/11/24	Initiated	Outperform	X
TCBX Third Coast Bancshares Keefe Bruyette
$26
11/9/18	Upgrades	Mkt Perform Outperform	X
TCF TCF Financial Keefe Bruyette
4/29/22	Downgrades	Outperform Mkt Perform	X
TCFC Community Financial Keefe Bruyette
$45
10/28/21	Upgrades	Mkt Perform Outperform	X
TCFC Community Financial Keefe Bruyette
$40 $45
12/15/22	Downgrades	Outperform Mkt Perform	X
TCN Tricon Residential Keefe Bruyette
$12.20
9/2/22	Upgrades	Mkt Perform Outperform	X
TD Toronto-Dominion Bank Keefe Bruyette
9/21/23	Upgrades	Mkt Perform Outperform	X
TFC Truist Keefe Bruyette
$37 $36
3/13/23	Upgrades	Underperform Mkt Perform	X
TFC Truist Keefe Bruyette
$47 $45
7/7/21	Resumed	Underperform	X
TFC Truist Keefe Bruyette
$49
2/27/25	Upgrades	Underperform Mkt Perform	X
TFIN Triumph Financial Keefe Bruyette
$80 $74
7/19/24	Downgrades	Mkt Perform Underperform	X
TFIN Triumph Financial Keefe Bruyette
$75 $70
7/28/23	Downgrades	Outperform Mkt Perform	X
TGH Textainer Group Keefe Bruyette
$40 $45
2/19/21	Downgrades	Outperform Mkt Perform	X
THG Hanover Insurance Keefe Bruyette
$130
5/4/18	Upgrades	Mkt Perform Outperform	X
THG Hanover Insurance Keefe Bruyette
10/2/24	Upgrades	Mkt Perform Outperform	X
TMP Tompkins Finl Keefe Bruyette
$59 $68
12/10/24	Downgrades	Outperform Mkt Perform	X
TOL Toll Brothers Keefe Bruyette
$168 $164
4/9/24	Initiated	Mkt Perform	X
TOST Toast Keefe Bruyette
$25
10/2/24	Upgrades	Mkt Perform Outperform	X
TOWN Towne Bank Keefe Bruyette
$35 $40
5/11/18	Upgrades	Mkt Perform Outperform	X
TPRE Third Point Reinsurance Keefe Bruyette
11/7/24	Upgrades	Underperform Mkt Perform	X
TPVG TriplePoint Venture Growth Keefe Bruyette
$8 $7.50
12/20/22	Downgrades	Mkt Perform Underperform	X
TPVG TriplePoint Venture Growth Keefe Bruyette
$13 $10
2/28/24	Upgrades	Mkt Perform Outperform	X
TREE LendingTree Keefe Bruyette
$24 $45
8/7/23	Upgrades	Underperform Mkt Perform	X
TRIN Trinity Capital Keefe Bruyette
$15
3/13/23	Downgrades	Mkt Perform Underperform	X
TRIN Trinity Capital Keefe Bruyette
$13.50 $11
11/4/22	Downgrades	Outperform Mkt Perform	X
TRIN Trinity Capital Keefe Bruyette
$16 $12.50
2/23/21	Initiated	Outperform	X
TRIN Trinity Capital Keefe Bruyette
$17.50
4/25/24	Upgrades	Mkt Perform Outperform	X
TRMK Trustmark Keefe Bruyette
$30 $36
3/20/19	Downgrades	Mkt Perform Underperform	X
TRMK Trustmark Keefe Bruyette
4/11/24	Upgrades	Underperform Mkt Perform	X
TROW T. Rowe Price Keefe Bruyette
$106 $120
6/29/22	Downgrades	Mkt Perform Underperform	X
TROW T. Rowe Price Keefe Bruyette
$122 $107
9/7/18	Upgrades	Mkt Perform Outperform	X
TRTN Triton International Keefe Bruyette
2/19/25	Upgrades	Mkt Perform Outperform	X
TRV Travelers Keefe Bruyette
$275 $286
6/6/19	Downgrades	Outperform Mkt Perform	X
TRV Travelers Keefe Bruyette
$153
12/20/24	Upgrades	Mkt Perform Outperform	X
TW Tradeweb Markets Keefe Bruyette
$143 $150
3/8/18	Downgrades	Outperform Mkt Perform	X
UBNK United Financial Keefe Bruyette
1/6/22	Upgrades	Mkt Perform Outperform	X
UBS UBS AG Keefe Bruyette
5/27/21	Upgrades	Mkt Perform Outperform	X
UBS UBS AG Keefe Bruyette
3/26/19	Downgrades	Outperform Mkt Perform	X
UBS UBS AG Keefe Bruyette
7/20/23	Downgrades	Outperform Mkt Perform	X
UCBI United Comm Banks Keefe Bruyette
$33 $30
2/25/19	Downgrades	Outperform Mkt Perform	X
UCBI United Comm Banks Keefe Bruyette
$32
5/31/24	Upgrades	Mkt Perform Outperform	X
UMBF UMB Financial Corporation Keefe Bruyette
$98
2/11/22	Resumed	Mkt Perform	X
UMPQ Umpqua Holdings Keefe Bruyette
$23.25
3/14/23	Upgrades	Mkt Perform Outperform	X
UNM Unum Group Keefe Bruyette
$49 $52
7/12/18	Initiated	Outperform	X
UNTY Unity Bancorp Keefe Bruyette
4/18/24	Downgrades	Outperform Mkt Perform	X
USB U.S. Bancorp Keefe Bruyette
$52 $45
12/13/22	Upgrades	Mkt Perform Outperform	X
USB U.S. Bancorp Keefe Bruyette
$52 $58
1/20/22	Downgrades	Outperform Mkt Perform	X
USB U.S. Bancorp Keefe Bruyette
$73 $64
7/7/21	Resumed	Outperform	X
USB U.S. Bancorp Keefe Bruyette
$69
7/27/18	Downgrades	Outperform Mkt Perform	X
UVE Universal Insurance Keefe Bruyette
10/6/23	Downgrades	Outperform Mkt Perform	X
UVSP Univest Corp. of PA Keefe Bruyette
$24 $20
3/3/25	Upgrades	Mkt Perform Outperform	X
UWMC UWM Holdings Keefe Bruyette
$6.50 $7.50
4/9/24	Upgrades	Underperform Mkt Perform	X
UWMC UWM Holdings Keefe Bruyette
$6
1/10/24	Downgrades	Mkt Perform Underperform	X
UWMC UWM Holdings Keefe Bruyette
$6
3/2/23	Upgrades	Underperform Mkt Perform	X
UWMC UWM Holdings Keefe Bruyette
$3.50 $4
12/15/22	Downgrades	Mkt Perform Underperform	X
UWMC UWM Holdings Keefe Bruyette
$3.50
7/2/21	Initiated	Mkt Perform	X
UWMC UWM Holdings Keefe Bruyette
$8.50
8/28/24	Initiated	Outperform	X
VBNK VersaBank Keefe Bruyette
11/29/22	Initiated	Outperform	X
VBNK VersaBank Keefe Bruyette
10/24/24	Downgrades	Outperform Mkt Perform	X
VBTX Veritex Holdings Keefe Bruyette
6/29/22	Downgrades	Outperform Mkt Perform	X
VCTR Victory Capital Keefe Bruyette
$34 $29
5/10/21	Upgrades	Mkt Perform Outperform	X
VCTR Victory Capital Keefe Bruyette
$30 $39
9/25/18	Upgrades	Mkt Perform Outperform	X
VCTR Victory Capital Keefe Bruyette
$12.50
3/5/18	Initiated	Mkt Perform	X
VCTR Victory Capital Keefe Bruyette
5/31/24	Downgrades	Outperform Mkt Perform	X
VLY Valley National Keefe Bruyette
$8
2/10/21	Resumed	Outperform	X
VLY Valley National Keefe Bruyette
$13
10/21/24	Downgrades	Outperform Mkt Perform	X
WAFD WaFd, Inc. Keefe Bruyette
$40
3/6/25	Upgrades	Mkt Perform Outperform	X
WD Walker & Dunlop Keefe Bruyette
$105
12/13/23	Downgrades	Outperform Mkt Perform	X
WD Walker & Dunlop Keefe Bruyette
$85 $105
6/29/22	Downgrades	Outperform Mkt Perform	X
WETF WisdomTree Keefe Bruyette
$7.25 $6
7/13/18	Downgrades	Outperform Mkt Perform	X
WETF WisdomTree Keefe Bruyette
4/30/18	Upgrades	Mkt Perform Outperform	X
WETF WisdomTree Keefe Bruyette
3/27/24	Downgrades	Outperform Mkt Perform	X
WFC Wells Fargo Keefe Bruyette
$56 $62
7/7/21	Resumed	Outperform	X
WFC Wells Fargo Keefe Bruyette
$57
4/1/19	Downgrades	Outperform Mkt Perform	X
WFC Wells Fargo Keefe Bruyette
$58 $50
7/16/18	Upgrades	Mkt Perform Outperform	X
WFC Wells Fargo Keefe Bruyette
2/5/18	Downgrades	Outperform Mkt Perform	X
WFC Wells Fargo Keefe Bruyette
3/18/19	Initiated	Mkt Perform	X
WMC Western Asset Mortgage Keefe Bruyette
$10.50
12/6/23	Downgrades	Outperform Mkt Perform	X
WRB W.R. Berkley Keefe Bruyette
$69 $80
9/6/22	Upgrades	Mkt Perform Outperform	X
WRB W.R. Berkley Keefe Bruyette
$77 $80
2/10/25	Upgrades	Mkt Perform Outperform	X
WSBC WesBanco Inc Keefe Bruyette
$40 $44
7/25/19	Upgrades	Mkt Perform Outperform	X
WSBC WesBanco Inc Keefe Bruyette
$42
10/25/21	Downgrades	Outperform Mkt Perform	X
WSFS WSFS Financial Keefe Bruyette
$56
7/23/21	Upgrades	Mkt Perform Outperform	X
WSFS WSFS Financial Keefe Bruyette
$58
2/26/21	Downgrades	Outperform Mkt Perform	X
WSFS WSFS Financial Keefe Bruyette
$50
7/19/24	Downgrades	Outperform Mkt Perform	X
WTFC Wintrust Fin Keefe Bruyette
$110 $115
5/13/19	Initiated	Mkt Perform	X
WTRE Watford Holdings Keefe Bruyette
$33
1/18/23	Upgrades	Mkt Perform Outperform	X
WTW Willis Towers Watson Keefe Bruyette
$303
12/7/18	Initiated	Mkt Perform	X
WU Western Union Keefe Bruyette
1/8/25	Initiated	Mkt Perform	X
WULF TeraWulf Keefe Bruyette
3/9/18	Downgrades	Outperform Mkt Perform	X
XL XL Group plc Keefe Bruyette
3/21/22	Initiated	Outperform	X
Y Alleghany Corporation Keefe Bruyette
$815
10/7/22	Downgrades	Outperform Mkt Perform	X
ZION Zions Bancorp Keefe Bruyette
$77 $72
7/7/21	Resumed	Mkt Perform	X
ZION Zions Bancorp Keefe Bruyette
$57
7/23/19	Downgrades	Outperform Mkt Perform	X
ZION Zions Bancorp Keefe Bruyette
$53 $47