Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

RBC Capital Ups East West Bancorp to Outperform


RBC Capital upgraded East West Bancorp (EWBC) to outperform from sector perform, after the company's first quarter results announcement.

Analyst Joe Morford says its 55 cents first quarter earnings per share (EPS) beat his estimate by 3 cents and the consensus by 2 cents. He notes that the upside stemmed from a number of factors, including roughly 2 cents of securities gains. He says that the margin drifted down just two basis points to 4.18%. He also notes accelerated loan growth, further fee gains, and significant improvement in credit. He raises his $2.25 2006 EPS estimate to $2.28 and his $2.60 2007 estimate to $2.62. He notes the recent pullback in shares, as well as his increased confidence in outlook for margin and loan growth. He maintains his $43 stock price target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus