Wells Fargo Analyst Downgrades ASB, BANC, FIBK, FHN Citing Interest Rate Pressures And Credit Risks - Associated Banc (NYSE:ASB), East West Bancorp (NASDAQ:EWBC), Western Alliance (NYSE:WAL), Banc of California (NYSE:BANC)
Wells Fargo analyst Timur Braziler has assumed coverage of 15 banks in addition to the seven currently covered. The analyst transferred coverage of midcap banks, downgraded 4 to Equal Weight, and became more selective given the risk to earnings (rates, credit) and delayed consolidation benefits, mitigated by inexpensive valuations.
Source: benzinga.com