Following a solid quarter in which East West Bancorp, Inc. EWBC demonstrated strong C&I loan growth and improved earnings visibility, Keefe, Bruyette & Woods is raising its earnings estimates and price target, and is reiterating its Outperform rating.
“In the near term, earnings improvement should be achieved from a normalization of credit costs,” Keefe, Bruyette & Woods writes. “In the longer term, earnings improvement should come from revenue growth and capital management.”
East West Bancorp currently trades at $17.34.
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