Allegiant Bancorp downgraded to "market perform"

11/21/03 - Raymond James

NEW YORK, November 21 (New Ratings) – Analyst Brad Vander Ploeg of Raymond James downgrades Allegiant Bancorp Inc (ALLE) from "strong buy" to "market perform."

In a research note dated November 20 and published this morning, the analyst mentions that the company has stated that it has signed a definitive agreement to be acquired by National City Corporation. Allegiant has obtained an attractive price for its franchisee, a deal that is expected to close by Q104, the analyst adds.