Excel (EXM) (GRM) (IVN) (NWBI) SHBI) Get Ratings Downgrades

Excel Maritime Carriers Ltd (NYSE: EXM), Graham Packaging Company Inc (NYSE: GRM), Ivanhoe Mines Ltd (NYSE: IVN), Northwest Bancshares, Inc. (NASDAQ: NWBI) and Shore Bancshares, Inc. (NASDAQ: SHBI) downgraded by analysts.

Jefferies (NYSE:JEF) downgraded Excel Maritime Carriers Ltd (EXM) from a “Hold” rating to an “Underperform” rating.

Goldman Sachs (NYSE:GS) downgraded Graham Packaging Company Inc (GRM) from a “Buy” rating to a “Neutral” rating. They set a price target of $24.00 on the stock.

BMO Capital Markets downgraded Ivanhoe Mines Ltd (IVN) from an “Outperform” rating to a “Market Perform” rating.

FBR Capital downgraded Northwest Bancshares, Inc. (NWBI) from an “Outperform” rating to a “Market Perform” rating. They placed a price target of $13 on the firm.

Sandler O’Neill downgraded Shore Bancshares, Inc. (SHBI) from a “Buy” rating to a “Hold” rating.

Bank of America (NYSE:BAC), Citigroup (NYSE:C), Top Banking Picks of Sandler O'Neill

According to Sandler O'Neill's Jeffrey Harte said in an interview with CNBC (NYSE:GE), he sees 2011 being a good year for banks in general, and his favorite picks in the sector are Bank of America (NYSE:BAC) and Citigroup (NYSE:C).

Harte said concerning the upcoming earnings report of JPMorgan (NYSE:JPM), “Once the Fed’s stress tests get done, there’s plenty of room for JPMorgan to raise that 5 cent dividend to at least 15 cents in the first quarter and maybe start looking at 25 cents in 2012.

“Longer-term, I like [Citigroup] the best because of some of the international consumer [exposure]. Looking at 2011, though, I like BofA primarily on perception play,” added Harte.

JPM will launch the financial earnings report season on Friday.

Bank of America was trading at $14.96, up $0.27, or 1.84 percent, as of 2:26 PM EST. Citigroup was trading at $5.05, up $0.11, or 2.23 percent. JPMorgan was at $44.75, gaining $1.15, or 2.64 percent.

Natural Resource Partners (NYSE:NRP) Achieves Record Revenue

Natural Resource Partners LP (NYSE:NRP) enjoyed one of their best quarters ever, breaking revenue records with over $80 million for the quarter while cutting operating costs by 34.5 percent.

That didn't impress Sandler O’Neill, as production guidance was lowered going forward, which may cut into the revenue and earnings of the coal miner. Sandler downgraded them from "Buy" to "Hold."

On the other hand, Stifel Nicolaus initiated coverage on Natural Resource with a "Buy" today.

The coal company is trading at $30.00, gaining $0.83, or 2.85 percent at 12:07 PM EST.

Natural Resource primarily leases properties to coal miners in return for royalty payments.