Bryce Rowe

Reviewing IBERIABANK Corp (NASDAQ: IBKC)'s third-quarter results, Baird delved into four things that stood out in the company's earnings miss. The firm said its assessment of the company's third-quarter operating earnings is 96 cents per share and pre-provisioning earnings per share is $1.69,...

Baird has downgraded business development companies Fidus Investment Corp (NASDAQ: FDUS), Monroe Capital Corp (NASDAQ: MRCC) and Main Street Capital Corporation (NYSE: MAIN) to Neutral from Outperform, saying risk/reward in these stocks appears balanced at current valuations. Instead, the...

Baird's Bryce Rowe raised Main Street Capital Corporation (NYSE: MAIN)'s price target from $36.00 to $37.00 while maintaining the company's Outperform rating. The rating reiteration and price target increase came after Main Street reported in-line EPS last week. Rowe applauded Main Street's...

Baird has downgraded Stellus Capital Investment Corp (NYSE: SCM) and New Mountain Finance Corp. (NYSE: NMFC) to Neutral from Outperform on valuation. The brokerage said BDC (business development company) valuations have rebounded meaningfully from earlier in the year. "Up from ~77 percent at the...

Banks and BDCs are becoming “increasingly less compelling,” following recent run-ups and the lack of profitability catalysts to support further valuation multiple expansion, Baird’s Bryce Rowe said in a report. He added, however, that investors should focus on higher-quality...