BBCN Bancorp (BBCN) is Upgraded by Keefe Bruyette to Outperform

BBCN Bancorp (BBCN) is Upgraded by Keefe Bruyette to Outperform , according to the research report released to the investors. Earlier the firm had a rating of Mkt Perform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

BBCN Bancorp, Inc. (NASDAQ:BBCN) witnessed a volatile trading activity on Thursday and eventually ended flat at 0% or 0 points without letting the bulls or bears take much advantage. The trading began at $16.71 and reached the intraday high at $16.83. The bulls started the profit booking and pushed the shares to intraday low of $16.34. The trading session was marked by a volume range of 893,697 shares exchanging hands. The 52-week high of the shares is $19.63 and the 52-week low is $12.77. The market cap of the company stands at $1,333 million and there are 79,553,460 shares in public circulation.

During the last several months other analysts have commented on the company rating. Brokerage firm Piper Jaffray upgrades its rating on BBCN Bancorp, Inc. (NASDAQ:BBCN). As per the latest information, the brokerage house raises the price target to $18 per share from a prior target of $15. The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by the firm was issued on December 8, 2015.

As many as 5 brokerage firms have rated BBCN Bancorp, Inc. (NASDAQ:BBCN) at 2.4. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term. The stock garnered a place in the hold list of 3 stock Analysts. 1 analysts suggested buying the company. 1 analysts rated the company as a strong buy.

BBCN Bancorp, Inc. (NASDAQ:BBCN): The mean estimate for the short term price target for BBCN Bancorp, Inc. (NASDAQ:BBCN) stands at $18.5 according to 5 Analysts. The higher price target estimate for the stock has been calculated at $22 while the lower price target estimate is at $17.

BBCN Bancorp, Inc. has lost 6.16% in the last five trading days and dropped 5.37% in the last 4 weeks. BBCN Bancorp, Inc. is up 17.48% in the last 3-month period. Year-to-Date the stock performance stands at 19.78%.”

BBCN Bancorp, Inc. (BBCN Bancorp), formerly Nara Bancorp, Inc., is a bank holding company. The Company offers commercial banking loan and deposit products through its wholly owned subsidiary, BBCN Bank (the Bank). The Company’s principal business activities consist of earning interest on loans and investment securities, which are funded by customer deposits and other borrowings. BBCN Bank focuses its business in Korean communities in California, New York City metropolitan area, New Jersey, Chicago and Seattle. Through the merger with Center, it added Center Bank’s 21 full-service branch offices, 18 of which are located in California, as well as a Loan Production Office in Seattle and one in Denver. On February 15, 2013, the Company merged with Pacific International Bancorp Inc. In August 2013, BBCN Bancorp, Inc. completed the acquisition of Foster Bankshares, Inc.