UPDATE: Wunderlich Raises PT on SCBT Financial Corp. to $35 (SCBT)

Wunderlich is out with its report today on SCBT Financial Corp. SCBT, raising its PT from $32 to $35.

In a note to clients, Wunderlich writes, "We maintain our Hold rating on shares of SCBT Financial Corporation, but we are raising our price target from $32 to $35 after the company recently completed its second FDIC-assisted acquisition of this cycle. Additionally, the company simultaneously completed a $35 million private placement of equity to support the addition to its balance sheet as well as future growth opportunities, yielding a pro forma TCE ratio of approximately 8.3%."

Shares of SCBT closed Monday at $31.41, down 1.13% from Friday's close.