Analyst Information


Nathan Race

Sr. Research Analyst

Nathan Race

 Nathan Race is a vice president and senior research analyst responsible for covering Midwest banks. Prior to joining Piper Sandler in 2015, Race spent four years as a SMID cap bank equity research analyst at Sterne Agee. Previously, Race worked for a proprietary commodities and options trading firm at the Chicago Board of Trade as well as for a Chicago-based commercial bank. Race earned a bachelor’s degree in economics and international business from Rollins College.


Robert Shone, CFA
Research Analyst
Universe Coverage:
Financial Services:   West Coast Banks, Midwest Banks, Bank Insights
SRCE1st Source Corporation
ALRSAlerus Financial Corp.
BANFBancFirst Corporation
BYByline Bancorp, Inc.
CBSHCommerce Bancshares, Inc.
FIBKFirst Interstate BancSystem, Inc.
FMBIFirst Midwest Bancorp, Inc.
GBCIGlacier Bancorp, Inc.
HFWAHeritage Financial Corporation
HBNCHorizon Bancorp
LEVLLevel One Bancorp, Inc.
MFNCMackinac Financial Corporation
OSBCOld Second Bancorp, Inc.
OPBOpus Bank
PPBIPacific Premier Bancorp Inc.
QCRHQCR Holdings Inc.
TCFTCF Financial Corporation
UMBFUMB Financial Corporation
WTFCWintrust Financial Corporation