
Piper Sandler resumes coverage of Virginia-based community bank FVCBankcorp FVCB.O at "overweight" rating
Says the bank is geographically well-positioned and backed by strong capital levels and a low-risk credit profile
Brokerage thinks some element of scarcity value should creep into the valuation over time given FVCB is one of the last few community banks based in Northern Virginia
Sees more room to improve profitability for FVCB when the U.S. Federal Reserve resumes lowering rates
Piper Sandler's $16 PT on FVCB implies 19.2% upside to stock's last close
1 of 2 brokerages rates the stock "buy" and 1 "hold"; median PT $14.50 - data compiled by LSEG
As of last close, FVCB stock up 6.8% YTD