Wilshire Bancorp (NASDAQ:WIBC) Stock Upgrade
Wilshire Bancorp (NASDAQ:WIBC) was increased by Keefe Bruyette from a Mkt Perform rating to a solid Outperform rating in recent note sent to clients and investors on 21 December.
From a total of 5 analysts covering Wilshire Bancorp (NASDAQ:WIBC) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $15.5 while the lowest target price is $11. The mean of all analyst targets is $13 with a -0.33% below today’s ($12.04) stock price. Wilshire Bancorp was the topic of 5 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Bruyette & Woods” downgraded shares on July 21 to “Mkt Perform” rating. KBW downgraded WIBC stock in a recent report from July 22 to “Market Perform” rating.
Approximately 244,326 shares of stock traded hands. Wilshire Bancorp Inc (NASDAQ:WIBC) has risen 2.00% since May 18, 2015 and is uptrending. It has outperformed by 7.81% the S&P500.
The overall sentiment of institutions has decreased to 1.09 in Q2 2015. Its down 0.49, from 1.58 in 2015Q2. The ratio worsened, as 16 institutions have sold all the shares of Wilshire Bancorp Inc that they owned while 48 funds have taken shares off the table. 13 funds have purchased shares for the first time while 57 added to their positions. These institutions now hold 52.95 million shares or 4.42% less than the 55.40 million shares they owned in 2015Q2.
The Fund First Wilshire Securities Management Inc currently is holding shares equating to 2.89% of its total portfolio in Wilshire Bancorp Inc representing a total of 1.05 million shares. Another fund,Elizabeth Park Capital Advisors Ltd., is holding a total of 633,497 shares equating to 2.26% of their holdings. Additionally, Stieven Capital Advisors L.P. has a 442,900 share stake in Wilshire Bancorp Inc which represents 1.34% of their total portfolio. The Fund, Walthausen & Co. Llc, based out of New York, has also built up a stake in the stock, which represents a total of 1.21% of their total portfolio. Finally Jcsd Capital Llc, a fund which is based in the state of California reported a total holdings of 70,000 shares.
Wilshire Bancorp, Inc. is a bank holding firm offering a range of financial services and products primarily through its main subsidiary Wilshire Bank (the Bank), a California state-chartered commercial bank. The company has a market cap of $872.46 million. The Bank has 34 full-service branch offices in Southern California, Texas, New Jersey and the greater New York City metropolitan area. It has 14.92 P/E ratio. It also has four loan production offices (LPOs) located in California, Colorado, Georgia and Washington, which are utilized for the origination of loans under its Small Business Administration (SBA) lending program.
According to Zacks Investment Research, “Wilshire Bancorp Inc. is the holding company of Wilshire State Bank, a California state-chartered bank with a mission to serve an overlooked multi-ethnic small business community.”