Piper Sandler initiated coverage on five regional banks, rating Arrow Financial (AROW) Overweight due to expected net interest margin rebound and EPS growth. Cass Information Systems (CASS), Fulton Financial (FULT), Medallion Financial (MFIN), and OceanFirst Financial (OCFC) received Neutral ratings. Piper Sandler cited stagnating payment fee revenue for CASS, steady profitability for FULT, potential earnings buildup for MFIN, and middling profitability for OCFC following its FFIC acquisition.