KBW Maintains Market Perform on City National

KBW is out with its report today on City National CYN, maintaining Market Perform. In a note to clients, KBW writes, "CYN Beat with better NII, driven by 8% Q/Q annualized loan growth and increased leverage, as well as second consecutive quarter with a $0 provision. While core results were in line with our estimates, we believe NIM will be pressured in the near term, & have lowered our rate impact on outer years. Thus, we are lowering '12 & '13 EPS $0.25 to $4.05 & $4.55, respectively. Maintain MP rating." KBW maintains a $60 PT on CYN. Shares of CYN closed Thursday at $55.14.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsFinancialsKBWRegional Banks
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!