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UPDATE: D.A. Davidson Downgrades East West Bancorp to Neutral on EPS Outlook

Related EWBC
Earnings Scheduled For October 20, 2014
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D.A. Davidson lowered its rating on East West Bancorp (NASDAQ: EWBC) from Buy to Neutral and reduced its price target from $27 to $24.

D.A. Davidson said, "We are reducing our loan and overall balance sheet growth ]rates for 2013 as management has suggested loan growth over the next few quarters may lag the numbers posted by the company in recently. With continued run-off in the higher-yielding FDIC portfolio, we think NIM compression is likely to worsen resulting in lower NII, excluding potential accelerated discount accretion benefits related to the FDIC portfolio. Accordingly, we are reducing our 2013 NIM estimate from 3.85% to 3.81%. As a result of projections for slower balance sheet growth in 2013 and the lower NIM, our estimated NII for 2013 declines 2.2% from $770 million to $753 million."

East West Bancorp closed at $22.04 on Friday.

Latest Ratings for EWBC

DateFirmActionFromTo
Oct 2014BMO CapitalUpgradesMarket PerformOutperform
Jun 2014BarclaysUpgradesEqual-weightOverweight
Apr 2014Sterne Agee & LeachUpgradesNeutralBuy

View More Analyst Ratings for EWBC
View the Latest Analyst Ratings

Posted-In: DA DavidsonAnalyst Color Downgrades Price Target Intraday Update Analyst Ratings

 

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