Wunderlich Securities Maintains Buy Rating and $16 PT on Washington Banking
A report from Wunderlich Securities reiterates its Buy rating and $16 price target on Washington Bank (NASDAQ: WBCO).
The report states, “WBCO reported 3Q EPS of $0.24, which was a penny light of consensus and $0.02 below our estimate. The company's results were more or less as expected with stable asset quality, an improved funding mix, and slight NIM expansion, with loss-share accounting from the two FDIC-assisted acquisitions in 2010 providing a degree of earnings volatility over the next several quarters."
WBCO closed yesterday at $11.64.
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