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Nathan Race

Nathan Race Analyst Performance

Managing Director, Senior Research Analyst at Piper Sandler

Nathan Race is a stock analyst at Piper Sandler focused in the finance sector, covering 34 publicly traded companies. Over the past year, Nathan Race has issued 115 stock ratings, including buy and hold recommendations. While full access to Nathan Race's proprietary MarketBeat Analyst Ranking is reserved for MarketBeat All Access subscribers, the rating is updated daily to reflect the most recent analyst activity. This profile highlights Nathan Race's coverage history, rating activity, and performance tendencies - helping individual investors make more informed trading decisions.

Analyst Rankings, Coverage, and Performance Statistics

Average Return
00.00% 12-Month ROI
Success Rate
00.00% Profitable Ratings
Total Ratings
163 Last 1 Years
Buy Recommendations
43.04% 68 Buy Ratings
Companies Covered
34 Unique Companies

Ratings Distribution

RatingPercentageCount
Strong Buy0.0%0 ratings
Buy43.0%68 ratings
Hold57.0%90 ratings
Sell0.0%0 ratings

Out of 158 total stock ratings issued by Nathan Race at Piper Sandler, the majority (57.0%) have been Hold recommendations, followed by 43.0% Buy.

Exchange Coverage

ExchangePercentageCount
NASDAQ
91.2% of companies on NASDAQ
31 companies
NYSE
8.8% of companies on NYSE
3 companies

Nathan Race, an analyst at Piper Sandler, currently covers 34 companies listed on NASDAQ and NYSE, with the majority traded on NASDAQ.

Coverage Focus

Sector IconSectorPercentage
Finance
30 companies
88.2%
Financial Services
3 companies
8.8%
Miscellaneous
1 company
2.9%

Nathan Race of Piper Sandler specializes in stock coverage within the Finance sector, with additional focus on Financial Services and companies.

Coverage Industries

IndustryPercentage
BANKS - MIDWEST
15 companies
44.1%
BANKS - NORTHEAST
7 companies
20.6%
FIN - SVGS & LOAN
3 companies
8.8%
STATE COMMERCIAL BANKS – FED RESERVE SYSTEM
3 companies
8.8%
BANKS - SOUTHEAST
2 companies
5.9%
Miscellaneous
1 company
2.9%
NATIONAL COMMERCIAL BANKS
1 company
2.9%
FIN - MISC SVCS
1 company
2.9%
BANKS - WEST
1 company
2.9%

Nathan Race's Ratings History at Piper Sandler

Recommendation ROI is the percentage between the price on the Report Date to the price 12 months after the report date.
Available with a MarketBeat All Access Subscription
12-Month ROIUpgrade to All Access to use the All ROI Filter
CompanyReport DateActionReport Date Price12-Month
Price Target
Rating12-Month
Price & ROI
Details
Bridgewater Bancshares, Inc. stock logo
BWB
Bridgewater Bancshares
7/23/2026Boost Price Target$20.73$24.00Overweight
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
7/22/2026Set Price Target$158.02$186.00
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
7/22/2026Set Price Target$39.84$46.00
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
7/22/2026Set Price Target$172.04$194.00
Mercantile Bank Corporation stock logo
MBWM
Mercantile Bank
7/22/2026Set Price Target$58.61$65.00
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
7/22/2026Reiterated Rating$39.50Overweight
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
7/22/2026Reiterated Rating$167.85Overweight
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
7/22/2026Reiterated Rating$158.93Overweight
Mercantile Bank Corporation stock logo
MBWM
Mercantile Bank
7/22/2026Reiterated Rating$59.68Neutral
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
7/17/2026Reiterated Rating$59.40$66.00Neutral
Bank7 Corp. stock logo
BSVN
Bank7
7/17/2026Boost Price Target$50.50$61.00Overweight
FRBT
Forbright
7/6/2026Initiated Coverage$18.75$21.50Neutral
FRBT
Forbright
7/6/2026Initiated Coverage$18.90$21.50Hold
West Bancorporation, Inc. stock logo
WTBA
West Bancorporation
6/26/2026Boost Price Target$25.89$27.00Neutral
UMB Financial Corporation stock logo
UMBF
UMB Financial
6/26/2026Boost Price Target$143.41$161.00Overweight
Stock Yards Bancorp, Inc. stock logo
SYBT
Stock Yards Bancorp
6/26/2026Reiterated Rating$75.85$81.00Neutral
Southern Missouri Bancorp, Inc. stock logo
SMBC
Southern Missouri Bancorp
6/26/2026Reiterated Rating$74.76$79.00Neutral
Park National Co. stock logo
PRK
Park National
6/26/2026Boost Price Target$181.62$189.00Neutral
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
6/26/2026Boost Price Target$37.98$43.00Overweight
Old Second Bancorp, Inc. stock logo
OSBC
Old Second Bancorp
6/26/2026Boost Price Target$23.02$26.00Overweight
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
6/26/2026Boost Price Target$30.51$32.00Neutral
Mercantile Bank Corporation stock logo
MBWM
Mercantile Bank
6/26/2026Boost Price Target$56.27$60.00Neutral
First Internet Bancorp stock logo
INBK
First Internet Bancorp
6/26/2026Boost Price Target$27.41$26.00Neutral
Alerus Financial stock logo
ALRS
Alerus Financial
6/26/2026Boost Price Target$30.63$32.00Neutral
HBT Financial, Inc. stock logo
HBT
HBT Financial
6/26/2026Boost Price Target$31.85$34.00Neutral
First Merchants Corporation stock logo
FRME
First Merchants
6/26/2026Boost Price Target$44.10$51.00Overweight
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
6/26/2026Boost Price Target$57.54$59.00Neutral
First Busey Corporation stock logo
BUSE
First Busey
6/26/2026Boost Price Target$29.53$32.00Overweight
Equity Bancshares, Inc. stock logo
EQBK
Equity Bancshares
6/22/2026Reiterated Rating$46.78Overweight
Enterprise Financial Services Corporation stock logo
EFSC
Enterprise Financial Services
6/18/2026Boost Price Target$61.97$67.00Neutral
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
6/10/2026Reiterated Rating$36.00Overweight
First Internet Bancorp stock logo
INBK
First Internet Bancorp
5/1/2026Boost Price Target$22.92$24.00Neutral
Alerus Financial stock logo
ALRS
Alerus Financial
5/1/2026Boost Price Target$26.94$28.50Neutral
UMB Financial Corporation stock logo
UMBF
UMB Financial
4/30/2026Boost Price Target$124.22$155.00Overweight
First Busey Corporation stock logo
BUSE
First Busey
4/30/2026Boost Price Target$25.77$30.00Overweight
HBT Financial, Inc. stock logo
HBT
HBT Financial
4/28/2026Boost Price Target$27.79$32.00Neutral
Stock Yards Bancorp, Inc. stock logo
SYBT
Stock Yards Bancorp
4/27/2026Reiterated Rating$70.49$78.00Neutral
1st Source Corporation stock logo
SRCE
1st Source
4/27/2026Boost Price Target$73.11$88.00Overweight
Southern Missouri Bancorp, Inc. stock logo
SMBC
Southern Missouri Bancorp
4/27/2026Reiterated Rating$67.27$71.00Neutral
QCR Holdings, Inc. stock logo
QCRH
QCR
4/27/2026Lower Price Target$88.39$107.00Overweight
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Park National Co. stock logo
PRK
Park National
4/27/2026Boost Price Target$171.87$188.00Neutral
Old Second Bancorp, Inc. stock logo
OSBC
Old Second Bancorp
4/27/2026Lower Price Target$20.00$25.00Overweight
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
4/27/2026Boost Price Target$25.00$28.00Neutral
ISBA
Isabella Bank
4/27/2026Lower Price Target$41.63$47.00Neutral
Horizon Bancorp (IN) stock logo
HBNC
Horizon Bancorp (IN)
4/27/2026Reiterated Rating$17.83$21.00Neutral
Independent Bank Corporation stock logo
IBCP
Independent Bank
4/27/2026Lower Price Target$33.54$37.00Neutral
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
4/23/2026Boost Price Target$33.92$41.00Overweight
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
4/23/2026Reiterated Rating$50.60$58.50Neutral
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
4/22/2026Reiterated Rating$150.26$188.00Overweight
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
4/22/2026Lower Price Target$154.50$183.00Overweight
Equity Bancshares, Inc. stock logo
EQBK
Equity Bancshares
4/16/2026Boost Price Target$45.03$58.00Overweight
Bank7 Corp. stock logo
BSVN
Bank7
4/15/2026Boost Price Target$43.95$57.00Overweight
German American Bancorp, Inc. stock logo
GABC
German American Bancorp
3/20/2026Upgrade$39.82$47.00Overweight
HBT Financial, Inc. stock logo
HBT
HBT Financial
3/13/2026Boost Price Target$26.29$30.00Neutral
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
2/19/2026Upgrade$153.63$185.00Overweight
First Merchants Corporation stock logo
FRME
First Merchants
2/4/2026Boost Price Target$40.81$49.00Overweight
Park National Co. stock logo
PRK
Park National
2/3/2026Boost Price Target$166.27$183.00Neutral
First Business Financial Services, Inc. stock logo
FBIZ
First Business Financial Services
2/3/2026Reiterated Rating$58.84$70.00Overweight
QCR Holdings, Inc. stock logo
QCRH
QCR
1/30/2026Reiterated Rating$90.77$108.00Overweight
Stock Yards Bancorp, Inc. stock logo
SYBT
Stock Yards Bancorp
1/30/2026Reiterated Rating$66.94$76.00Neutral
First Internet Bancorp stock logo
INBK
First Internet Bancorp
1/30/2026Lower Price Target$22.24$23.50Neutral
First Busey Corporation stock logo
BUSE
First Busey
1/30/2026Boost Price Target$24.68$29.00Overweight
UMB Financial Corporation stock logo
UMBF
UMB Financial
1/29/2026Boost Price Target$124.66$152.00Overweight
German American Bancorp, Inc. stock logo
GABC
German American Bancorp
1/29/2026Boost Price Target$40.68$47.00Neutral
Bridgewater Bancshares, Inc. stock logo
BWB
Bridgewater Bancshares
1/29/2026Reiterated Rating$18.77$23.00Overweight
Enterprise Financial Services Corporation stock logo
EFSC
Enterprise Financial Services
1/28/2026Boost Price Target$57.06$64.00Neutral
Central Bancompany stock logo
CBC
Central Bancompany
1/28/2026Boost Price Target$24.50$30.00Overweight
1st Source Corporation stock logo
SRCE
1st Source
1/26/2026Boost Price Target$66.15$83.00Overweight
Southern Missouri Bancorp, Inc. stock logo
SMBC
Southern Missouri Bancorp
1/26/2026Reiterated Rating$60.68$68.00Neutral
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
1/26/2026Boost Price Target$23.00$25.50Neutral
Independent Bank Corporation stock logo
IBCP
Independent Bank
1/26/2026Boost Price Target$34.71$39.00Neutral
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
1/26/2026Set Price Target$53.21$62.00Neutral
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
1/22/2026Boost Price Target$151.54$184.00Overweight
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
1/21/2026Boost Price Target$131.62$148.00Neutral
Mercantile Bank Corporation stock logo
MBWM
Mercantile Bank
1/21/2026Set Price Target$50.63$57.00
Equity Bancshares, Inc. stock logo
EQBK
Equity Bancshares
1/12/2026Boost Price Target$45.76$57.00Overweight
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
1/9/2026Reiterated Rating$55.01$64.00Neutral
Mercantile Bank Corporation stock logo
MBWM
Mercantile Bank
1/8/2026Reiterated Rating$48.75$55.50Neutral
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
12/2/2025Boost Price Target$16.56$19.00Neutral
First Northwest Bancorp stock logo
FNWB
First Northwest Bancorp
11/7/2025Upgrade$8.82$13.50Overweight
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
11/4/2025Lower Price Target$16.25$18.00Neutral
First Business Financial Services, Inc. stock logo
FBIZ
First Business Financial Services
11/4/2025Boost Price Target$50.17$61.00Overweight
Alerus Financial stock logo
ALRS
Alerus Financial
11/4/2025Lower Price Target$20.95$24.00Neutral
ISBA
Isabella Bank
10/31/2025Boost Price Target$35.59$38.50Neutral
First Busey Corporation stock logo
BUSE
First Busey
10/31/2025Lower Price Target$22.40$26.00Overweight
UMB Financial Corporation stock logo
UMBF
UMB Financial
10/30/2025Reiterated Rating$108.68$145.00Overweight
Park National Co. stock logo
PRK
Park National
10/29/2025Lower Price Target$159.04$176.00Neutral
Enterprise Financial Services Corporation stock logo
EFSC
Enterprise Financial Services
10/29/2025Lower Price Target$53.95$62.00Neutral
First Merchants Corporation stock logo
FRME
First Merchants
10/27/2025Lower Price Target$37.27$46.00Overweight
West Bancorporation, Inc. stock logo
WTBA
West Bancorporation
10/27/2025Boost Price Target$20.99$24.00Neutral
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S&T Bancorp, Inc. stock logo
STBA
S&T Bancorp
10/27/2025Lower Price Target$36.44$40.00Neutral
QCR Holdings, Inc. stock logo
QCRH
QCR
10/27/2025Boost Price Target$76.89$97.00Overweight
First Internet Bancorp stock logo
INBK
First Internet Bancorp
10/27/2025Lower Price Target$19.94$22.00Neutral
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
10/22/2025Reiterated Rating$129.29$161.00Overweight
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
10/22/2025Lower Price Target$29.76$33.50Overweight
HBT Financial, Inc. stock logo
HBT
HBT Financial
10/21/2025Lower Price Target$24.84$27.50Neutral
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
10/17/2025Lower Price Target$49.90$60.00Neutral
Enterprise Financial Services Corporation stock logo
EFSC
Enterprise Financial Services
10/15/2025Initiated Coverage$57.96$64.00Neutral
Equity Bancshares, Inc. stock logo
EQBK
Equity Bancshares
10/8/2025Initiated Coverage$40.54$54.00Overweight
Southern Missouri Bancorp, Inc. stock logo
SMBC
Southern Missouri Bancorp
8/28/2025Initiated Coverage$57.78$66.00Neutral
UMB Financial Corporation stock logo
UMBF
UMB Financial
7/31/2025Boost Price Target$109.58$148.00Overweight
German American Bancorp, Inc. stock logo
GABC
German American Bancorp
7/31/2025Boost Price Target$38.49$44.00Neutral
Alerus Financial stock logo
ALRS
Alerus Financial
7/30/2025Boost Price Target$22.33$25.50Neutral
MidWestOne Financial Group, Inc. stock logo
MOFG
MidWestOne Financial Group
7/29/2025Lower Price Target$28.44$31.00Neutral
First Business Financial Services, Inc. stock logo
FBIZ
First Business Financial Services
7/29/2025Boost Price Target$48.80$58.00Overweight
ISBA
Isabella Bank
7/29/2025Lower Price Target$29.35$34.00Neutral
West Bancorporation, Inc. stock logo
WTBA
West Bancorporation
7/28/2025Lower Price Target$18.69$20.50Neutral
QCR Holdings, Inc. stock logo
QCRH
QCR
7/28/2025Boost Price Target$74.30$92.50Overweight
1st Source Corporation stock logo
SRCE
1st Source
7/28/2025Boost Price Target$62.55$80.00Overweight
First Internet Bancorp stock logo
INBK
First Internet Bancorp
7/28/2025Lower Price Target$23.08$26.00Neutral
Horizon Bancorp (IN) stock logo
HBNC
Horizon Bancorp (IN)
7/28/2025Boost Price Target$15.71$18.00Neutral
First Merchants Corporation stock logo
FRME
First Merchants
7/28/2025Lower Price Target$40.03$48.00Overweight
Bridgewater Bancshares, Inc. stock logo
BWB
Bridgewater Bancshares
7/28/2025Boost Price Target$16.20$20.00Overweight
Stock Yards Bancorp, Inc. stock logo
SYBT
Stock Yards Bancorp
7/24/2025Boost Price Target$80.27$86.00Neutral
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
7/23/2025Reiterated Rating$135.54$160.00Overweight
Mercantile Bank Corporation stock logo
MBWM
Mercantile Bank
7/23/2025Boost Price Target$48.99$56.00Neutral
HBT Financial, Inc. stock logo
HBT
HBT Financial
7/22/2025Boost Price Target$26.66$29.00Neutral
Bank7 Corp. stock logo
BSVN
Bank7
7/18/2025Boost Price Target$46.44$55.00Overweight
S&T Bancorp, Inc. stock logo
STBA
S&T Bancorp
7/18/2025Initiated Coverage$39.25$42.00Neutral
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
7/17/2025Boost Price Target$60.82$66.67Neutral
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
7/16/2025Reiterated Rating$128.84$140.00Neutral
West Bancorporation, Inc. stock logo
WTBA
West Bancorporation
7/15/2025Reiterated Rating$20.01$21.50Neutral
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
7/11/2025Reiterated Rating$18.71$21.00Neutral
First Northwest Bancorp stock logo
FNWB
First Northwest Bancorp
7/10/2025Reiterated Rating$7.93Neutral
Old Second Bancorp, Inc. stock logo
OSBC
Old Second Bancorp
7/2/2025Reiterated Rating$18.70$24.50Overweight
First Busey Corporation stock logo
BUSE
First Busey
7/1/2025Initiated Coverage$22.89$30.00Overweight
Bridgewater Bancshares, Inc. stock logo
BWB
Bridgewater Bancshares
6/26/2025Reiterated Rating$15.91$19.00Overweight
UMB Financial Corporation stock logo
UMBF
UMB Financial
6/13/2025Set Price Target$101.88$135.00Overweight
UMB Financial Corporation stock logo
UMBF
UMB Financial
5/2/2025Reiterated Rating$99.14$137.00Overweight
Alerus Financial stock logo
ALRS
Alerus Financial
5/2/2025Boost Price Target$20.18$23.00Neutral
German American Bancorp, Inc. stock logo
GABC
German American Bancorp
5/1/2025Lower Price Target$37.82$42.00Neutral
First Savings Financial Group, Inc. stock logo
FSFG
First Savings Financial Group
4/29/2025Boost Price Target$26.93$32.00Overweight
First Northwest Bancorp stock logo
FNWB
First Northwest Bancorp
4/29/2025Boost Price Target$10.35$12.00Neutral
MidWestOne Financial Group, Inc. stock logo
MOFG
MidWestOne Financial Group
4/28/2025Lower Price Target$27.91$33.00Neutral
First Internet Bancorp stock logo
INBK
First Internet Bancorp
4/28/2025Lower Price Target$20.41$24.00Neutral
Independent Bank Corporation stock logo
IBCP
Independent Bank
4/28/2025Lower Price Target$30.69$36.00Neutral
Horizon Bancorp (IN) stock logo
HBNC
Horizon Bancorp (IN)
4/28/2025Lower Price Target$14.55$17.00Neutral
First Merchants Corporation stock logo
FRME
First Merchants
4/28/2025Lower Price Target$35.28$49.00Overweight
First Business Financial Services, Inc. stock logo
FBIZ
First Business Financial Services
4/28/2025Boost Price Target$47.39$58.00Overweight
Stock Yards Bancorp, Inc. stock logo
SYBT
Stock Yards Bancorp
4/24/2025Set Price Target$73.91$81.00Neutral
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QCR Holdings, Inc. stock logo
QCRH
QCR
4/24/2025Lower Price Target$64.85$88.00Overweight
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
4/23/2025Lower Price Target$108.77$141.00Overweight
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
4/17/2025Boost Price Target$57.82$62.86Neutral
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
4/16/2025Lower Price Target$105.04$118.00Neutral
First Business Financial Services, Inc. stock logo
FBIZ
First Business Financial Services
2/4/2025Boost Price Target$52.51$63.00Overweight
First Northwest Bancorp stock logo
FNWB
First Northwest Bancorp
2/3/2025Boost Price Target$10.75$12.00Neutral
ISBA
Isabella Bank
2/3/2025Boost Price Target$25.80$28.00Neutral
First Merchants Corporation stock logo
FRME
First Merchants
1/31/2025Reiterated Rating$44.94$55.00Overweight
Bridgewater Bancshares, Inc. stock logo
BWB
Bridgewater Bancshares
1/31/2025Lower Price Target$14.20$17.00Overweight
First Savings Financial Group, Inc. stock logo
FSFG
First Savings Financial Group
1/31/2025Lower Price Target$24.40$30.00Overweight
Alerus Financial stock logo
ALRS
Alerus Financial
1/30/2025Boost Price Target$20.95$24.00Neutral
UMB Financial Corporation stock logo
UMBF
UMB Financial
1/30/2025Boost Price Target$122.56$143.00Overweight
German American Bancorp, Inc. stock logo
GABC
German American Bancorp
1/29/2025Lower Price Target$42.18$48.00Neutral
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
1/28/2025Lower Price Target$19.71$23.00Neutral
First Internet Bancorp stock logo
INBK
First Internet Bancorp
1/27/2025Lower Price Target$33.75$38.00Neutral
Horizon Bancorp (IN) stock logo
HBNC
Horizon Bancorp (IN)
1/27/2025Lower Price Target$17.08$19.00Neutral
HBT Financial, Inc. stock logo
HBT
HBT Financial
1/24/2025Lower Price Target$23.30$26.00Neutral
Wintrust Financial Corporation stock logo
WTFC
Wintrust Financial
1/23/2025Boost Price Target$132.91$156.00Overweight
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
1/23/2025Boost Price Target$62.02$68.57Neutral
Nicolet Bankshares Inc. stock logo
NIC
Nicolet Bankshares
1/22/2025Boost Price Target$109.17$120.00Neutral
Bank7 Corp. stock logo
BSVN
Bank7
1/17/2025Boost Price Target$44.55$55.00Overweight
Commerce Bancshares, Inc. stock logo
CBSH
Commerce Bancshares
10/18/2024Set Price Target$58.09$65.24Neutral