Company did not provide specific guidance for the current or future periods
Overview
U.S. regional bank's Q2 adjusted EPS beat analyst expectations
Net income for Q2 was steady at $87.1 mln; net interest income slightly declined linked quarter
Company repurchased $60 mln in stock and raised quarterly dividend to $0.24/share
Result drivers
Net interest income - Net interest income fell $0.8 mln linked quarter as net interest margin declined and deposit costs rose
Noninterest income - Noninterest income rose $0.9 mln linked quarter, but mortgage banking income declined as gain on sale margin fell
Expenses - Noninterest expense increased $6.2 mln linked quarter, mainly due to deferred compensation accruals, higher health insurance claims and annual merit increases
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
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