2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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NEW YORK - Shares of UCBH Holdings Inc. advanced Wednesday after an analyst reiterated a "Buy" rating on the stock, noting that the bank has greater earnings potential than many of its peers.
| UCBH | 4.55 |  0.23 |
Shares rose 14 cents, or 2.6 percent, to $5.48. Shares have traded between $2.17 and $20.22 in the past 12 months.
Following an investor meeting with the San Francisco-based bank, D.A. Davidson analyst Chris Stulpin said he believes the bank is on track to return to delivering above-average earnings in the next 12 to 18 months.
Management still expects second-half loan loss provisions to be less than in the first half, Stulpin said, and the level of incoming problem loans remains consistent with second-quarter levels.
Stulpin maintained a $7 price target on the stock.
UCBH is the bank holding company for United Commercial Bank, which operates branches throughout California and in Atlanta, Boston, Houston, New York, Seattle, and China.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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