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In This List

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UBS downgrades East West Bancorp on trade tension

Downgrades

UBS analyst Brock Vandervliet downgraded Pasadena, Calif.-based East West Bancorp Inc. driven primarily by concerns that trade tension will make outperformance unlikely.

The analyst downgraded the company's stock rating to "neutral" and lowered the price target to $50 from $58.

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Raymond James analysts downgraded Fresno, Calif.-based Central Valley Community Bancorp based on valuation.

The analysts downgraded the company's stock rating to "market perform" from "outperform." The analysts maintained their 2019 and 2020 EPS estimates of $1.60 and $1.46, respectively.

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Raymond James analysts also downgraded Mountlake Terrace, Wash.-based FS Bancorp Inc. based on valuation.

The analysts downgraded the company's stock rating to "market perform" from "outperform." The analysts maintained their 2019 and 2020 EPS estimates of $5.27 and $5.85, respectively.

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Raymond James analysts also downgraded Los Angeles-based Preferred Bank based on valuation.

The analysts downgraded the company's stock rating to "market perform" from "outperform." The analysts maintained their 2019 and 2020 EPS estimates of $5.12 and $5.17, respectively.

Initiations

Janney Montgomery Scott analyst Jake Civiello initiated coverage of Camden, Maine-based Camden National Corp. driven primarily by positive trends in balance sheet, deposit and loan growth.

The analyst believes the company's current market valuation is fair.

The analyst initiated coverage of the company with a "neutral" rating and a $48 fair value estimate. His non-GAAP EPS estimate is $3.60 for 2019 and $3.44 for 2020.

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Civiello also initiated coverage of Clearfield, Penn.-based CNB Financial Corp.

The bank's unique approach to growth has led to higher-than-average organic loan growth, the analyst wrote.

The analyst initiated coverage with a "buy" rating and a $37 fair value estimate. His non-GAAP EPS estimates are $2.56 for 2019 and $2.68 for 2020.

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Stephens analyst Brody Preston initiated coverage of Portsmouth, Va.-based TowneBank.

The analyst wrote that while he likes the company's solid base of noninterest bearing deposits, diversified revenue mix and improved growth opportunities, he has an outlook for below-peer profitability.

Preston initiated coverage of the company with an "equal-weight" rating and a $28 price target. His EPS estimates are $1.89 for 2019 and $1.91 for 2020.