Sterne Agee Reiterates Cape Bancorp Buy

Sterne Agee reiterated its Cape Bancorp CBNJ Buy rating in a research report published today. Sterne Agee has previously given Cape Bancorp a $10.50 price target. In the report, Sterne Agee states, "We believe Cape will continue to experience elevated levels of net charge-offs (NCOs) and delinquent loans, but feel there is sufficient capital (TCE/TA 11.6%) and PPNR to withstand further credit losses." Shares of Cape Bancorp were trading at $9.18 at the time of posting, down 2.44% from Friday's market close.