Sterne Agee Reiterates Neutral Rating, $25 PT on East West Bancorp Following 2Q13 Results

In a report published Thursday, Sterne Agee analyst Brett Rabatin reiterated a Neutral rating and $25.00 price target on

. In the report, Sterne Agee noted, “We lowered EWBC to Neutral after soft 1Q13 results but should have been more patient given 38% LQA loan growth in 2Q13, a stable NIM and profitability, and an impressive outlook going forward. The shares are likely to react favorably to results today, noting the Company has already benefited to a meaningful degree from the recent ‘asset sensitive' bank group performance.” East West Bancorp closed on Wednesday at $28.93.