The Nasdaq Bank Index being up more than 20% from the lows it reached mid-February has analysts suggesting that bank M&A, especially in the $100 million market cap range, will pick up.
“From an anecdotal standpoint, I’ve seen that large-cap M&A has dried up,” according to analyst Evan Tomaskovic of Carl Marks Advisors.
Smaller players such as Evans Bancorp (EVBN) , Seacoast Banking Corp. of Florida (SBCF) and State Bank Financial (STBZ) could begin to drive banking M&A, according to a few analysts.
