Monday, January 31, 2011

East West Bancorp (NASDAQ:EWBC) Downgraded on Valuation

Although Keefe, Bruyette & Woods like the potential of East West Bancorp (NASDAQ:EWBC) in the long term, short-term their valuation causes them to downgrade the bank.

KBW says, "EWBC posted solid 4Q10 results, delivering
ongoing improvement to its NIM and strong C&I loan growth,
maintaining its asset quality, and repaying TARP funding, which returns capital management flexibility to the bank...Downgrading to MP on valuation, but we still believe in East West's potential on a long-term basis and consider it to be a key California franchise."

Keefe, Bruyette & Woods downgraded East West Bancorp (EWBC)
to "Market Perform." KBW raised their price target on EWBC to $22.

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