Wunderlich Securities Reiterates Hold, $7 Target on American River Bankshares

Wunderlich Securities maintains its Hold rating and price target of $7 on American River Bankshares

as the company beats estimates on lower provision. Wunderlich Securities notes, "4Q11 beats estimates on lower credit costs. American River's EPS of $0.10 in 4Q11 beat consensus of $0.07 and our estimate of $0.05 primarily due to a zero provision in the quarter, which was partially offset by a lower NIM than we forecast. The NIM, which fell 11 basis points short of our estimate, declined 15 bps sequentially and five bps year-over-year. We are encouraged by the progress AMRB has made the past two quarters, including the company's second straight quarter of solid profitability and significant asset quality improvements." AMRB closed at $5.46 a share on Thursday.