Market Overview

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

Related EWBC
Benzinga's Top Upgrades, Downgrades For October 5, 2017
Benzinga's Top Upgrades, Downgrades For July 14, 2017

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

Oct 2017Raymond JamesUpgradesUnderperformMarket Perform
Jul 2017Deutsche BankDowngradesBuyHold
Jul 2017BMO CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for EWBC
View the Latest Analyst Ratings

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


Related Articles (EWBC)

View Comments and Join the Discussion!

Partner Center