Alabama National initiated with "market perform" -update

06/10/03 - Morgan Keegan

NEW YORK, June 10 (New Ratings) — Analysts at Morgan Keegan initiate coverage of Alabama National Bancorporation (ALAB) with a "market perform" rating.

The analysts mention that Alabama National Bancorporation's stock is currently trading at a significant premium to its community banking peers. Morgan Keegan expects the persisting economic downturn and declining interest rates, however, to offset any upside potential for the company's stock.