Stocks & Investing
Stocks and Investing
Stocks and Investing 
Fri, August 19, 2011
COBZ, PRWT, BBNK, HEOP, CVCY, WAL, Banks - West Stocks Undervalued
August 19, 2011/ M2 PRESSWIRE / BUYINS.NET / http://www.squeezetrigger.com is monitoring the Banks - West sector and these stocks are the most undervalued as of today. COBIZ FINANCIAL INC (NASDAQ:COBZ), PREMIERWEST BANCORP (NASDAQ:PRWT), BRIDGE CAPITAL HOLDINGS (NASDAQ:BBNK), HERITAGE OAKS BANCORP (NASDAQ:HEOP), CENTRAL VALLEY COMM BANCORP (NASDAQ:CVCY), WESTERN ALLIANCE BANCORP (NYSE:WAL) are all expected to go Up as they are Undervalued according to industry standard valuation metrics. The valuation model employs a three-factor approach to stock valuation using fundamental variables--the company's trailing 12-month Earnings-Per-Share (EPS), the analyst consensus estimate of the company's forecasted 12-month EPS, and the 30-year Treasury yield--to create a highly accurate reflection of a company's fair value.
The chart below displays the projected Fair Value and Valuation discount/premium of the most undervalued stocks in the highlighted industry group:
Symbol Company Name Last Close Fair Value Valuation Industry
COBZ COBIZ FINANCIAL INC 4.83 7.34 34.20% Undervalued Banks - West
PRWT PREMIERWEST BANCORP 1.2895 5.16 75.00% Undervalued Banks - West
BBNK BRIDGE CAPITAL HOLDINGS 10.13 12.19 16.90% Undervalued Banks - West
HEOP HERITAGE OAKS BANCORP 3.36 4.7 28.50% Undervalued Banks - West
CVCY CENTRAL VALLEY COMM BANCORP 6.18 7.08 12.70% Undervalued Banks - West
WAL WESTERN ALLIANCE BANCORP 5.59 14.88 62.40% Undervalued Banks - West
Here are some of the variables that are utilized when calculating the Fair Market Valuation of a stock: Long-run EPS growth rate, Duration of Business-growth-cycle, Volatility of EPS growth rate, Systematic or beta risk of the firm, Correlation between the firm's EPS and the interest rate environment, EPS growth volatility, Dividend payout ratio, Buffer earnings, Interest rate related criteria: Interest rate (30 year yield) long-run level, Duration of interest rate cycle, Interest rate volatility. The Fair Market Valuation uses 12-month historic and forecasted EPS values and the current 30-year treasury yield as primary determinants. When calculating risk/return values such as the Sharpe ratio, the historic periods used are five years.
Some expected results of the Valuation Model are: the valuation of a stock increases in a declining interest rate environment. Increasing current and/or projected EPS will produce a higher Valuation. While long-term EPS growth would produce a corresponding long-term Valuation increase, concomitant long-term interest rate increases would offset EPS growth and depress the Valuation. The shorter a company's own business cycle, the higher its stock Valuation will be.
COBIZ FINANCIAL INC (NASDAQ:COBZ) - CoBiz Financial Inc., through its subsidiaries, provides financial products and services. The companys Commercial Banking segment offers various accounts for depositors, including certificates of deposit, savings accounts, money market accounts, checking and NOW accounts, and individual retirement accounts; lending products comprising commercial loans, commercial and residential real estate construction loans, commercial and residential real estate mortgage loans, consumer loans, revolving lines of credit, and equipment lease financing; and real estate banking, private banking, and treasury management services. Its Investment Banking segment provides merger and acquisition advisory services, institutional private placements of debt and equity, and other strategic financial advisory services for middle-market companies. The companys Investment Advisory and Trust segment manages stock and bond portfolios for individuals and institutions; and offers wealth management and investment advisory services, fiduciary services, and estate administration services. Its Insurance segment provides employee benefits consulting and brokerage, wealth transfer planning and preservation for high-net-worth individuals, and executive benefits and compensation planning solutions; and commercial and personal property insurance brokerage, and casualty insurance brokerage, as well as risk management consulting services to small and medium-sized businesses, and individuals. As of December 31, 2009, the company operated 12 locations, including 9 in the Denver metropolitan area, 1 in Boulder, and 2 in the Vail area in Colorado under the name Colorado Business Bank; and 8 locations serving the Phoenix metropolitan area and the surrounding area of Maricopa County in Arizona under the name Arizona Business Bank. It was formerly known as CoBiz Inc. and changed its name to CoBiz Financial Inc. in May 2007. The company was founded in 1980 and is headquartered in Denver, Colorado.
PREMIERWEST BANCORP (NASDAQ:PRWT) - PremierWest Bancorp operates as the holding company for PremierWest Bank that provides a range of financial products and services to small and medium-sized businesses, professionals, and retail customers in southern and central Oregon and northern California. It generates various deposit products, including regular checking and savings accounts, money market accounts, individual retirement accounts, negotiable order of withdrawal accounts, time deposits, and certificates of deposit. The company originates various commercial and real estate loans; construction loans for owner-occupied and investment properties; and secured and unsecured consumer loans. It also offers safe deposit facilities, travelers checks, money orders, and automated teller machine services. In addition, the company offers investment brokerage services to its customers through a third-party broker-dealer arrangement, as well as through independent insurance companies for the sale of investment and insurance products, such as stocks, bonds, mutual funds, annuities, and other insurance products. As of December 31, 2009, it had a network of 48 full service branch offices, as well as 10 other office locations. The company was founded in 1999 and is headquartered in Medford, Oregon.
BRIDGE CAPITAL HOLDINGS (NASDAQ:BBNK) - Bridge Capital Holdings operates as the bank holding company for Bridge Bank, N.A. that provides commercial and retail banking services to small and medium size commercial businesses, business professionals, and retail customers in California. Its deposit products include checking, savings, non-interest and interest-bearing demand, and time deposits; money market deposit, NOW, and bundled accounts; and certificates of deposit. The companys deposit services also comprise direct payroll and social security deposit, post-paid bank-by-mail, and Internet banking. Its loan portfolio consists of commercial lines of credit and term loans, constructions loans, and equipment loans; and accounts receivable, factoring, and inventory financing. In addition, the company provides various lines of credit to individual borrowers, as well as offers homeowner equity loans, home improvement loans, auto financing, credit and debit cards, and overdraft/cash reserve accounts. Further, it finances real estate construction projects, primarily for the construction of owner occupied and 1 to 4 unit residential developments, and commercial buildings. Additionally, the company issues cashiers checks; sells travelers checks; and provides other customary banking services, such as courier deposit services, small business administration loans, and factoring and asset-based loans. As of December 31, 2009, it operated two branch offices and five loan production offices, primarily in the Silicon Valley and San Francisco Bay Areas of California. The company was founded in 2000 and is headquartered in San Jose, California.
HERITAGE OAKS BANCORP (NASDAQ:HEOP) - Heritage Oaks Bancorp operates as the holding company for Heritage Oaks Bank that provides commercial banking services to retail customers, farmers, and small to medium-sized businesses in California. The company generates various deposit products, including interest bearing and non-interest bearing demand deposits, checking accounts, savings accounts, money market accounts, certificate of deposit accounts, NOW accounts, and time deposits. Its loan products comprise commercial and industrial loans, installment loans, small business administration loans, agricultural loans, consumer loans, credit cards, construction loans, and real estate loans or commercial loans secured by real estate, primarily for single family residences or for commercial development. The company also offers installment note collection, issues cashiers checks and money orders, and sells travelers checks, as well as provides bank-by-mail, night depository, safe deposit boxes, online banking, and other customary banking services. As of December 31, 2009, it operated 15 branches in San Luis Obispo and Santa Barbara counties. The company was founded in 1983 and is headquartered in Paso Robles, California.
CENTRAL VALLEY COMM BANCORP (NASDAQ:CVCY) - Central Valley Community Bancorp operates as the bank holding company for the Central Valley Community Bank that provides commercial banking and financial services to individuals, businesses, and professional communities in California. The company accepts various deposit products, including interest-bearing deposits, such as savings and negotiable order of withdrawal accounts, money market accounts, and time certificates of deposits; and non-interest bearing demand deposits. Its loan portfolio comprises commercial and industrial loans; real estate related loans, such as construction, land development, and other land loans; equity loans and lines of credit; loans to finance agricultural production or other loans to farmers; and installment loans to individuals for household, family, and other personal expenditures. The company also provides wire transfer services, safe deposit boxes, and other customary banking services, as well as Internet banking. It operates 16 full-service banking offices in Clovis, Fresno, Kerman, Madera, Merced, Oakhurst, Sacramento, Tracy, Stockton, Lodi, and Prather; one limited-service banking office in Fresno; and a loan production office in Modesto, California. The company was founded in 1979 and is headquartered in Fresno, California.
WESTERN ALLIANCE BANCORP (NYSE:WAL) - Western Alliance Bancorporation, a multi bank holding company, provides various banking and related products and services in Nevada, Arizona, California, and Colorado. Its deposit products include checking, savings, money market, and other types of deposit accounts, including fixed-rate, fixed maturity retail certificates of deposit, as well as non-interest bearing deposits comprising non-interest bearing checking. The company provides construction and land development loans, which comprise loans for industrial/warehouse properties, office buildings, retail centers, medical facilities, restaurants, and single-family homes; commercial and industrial loans that include working capital lines of credit, inventory and accounts receivable lines, equipment loans, and other commercial loans; consumer loans, which consists of home equity loans and lines of credit, home improvement loans, credit card loan, new and used automobile loans, and personal lines of credit. It also offers commercial real estate loans secured by apartment buildings, professional offices, industrial facilities, retail centers, and other commercial properties; and residential mortgage loans secured by one to four single family properties. In addition, the company provides asset allocation and investment advisory services; wealth management services, including trust administration of personal and retirement accounts; estate and financial planning; equipment leasing, and custody services. Further, it offers Internet banking, wire transfers, electronic bill payment, lock box services, courier, and cash management services. The company provides its services to businesses, professional firms, real estate developers and investors, non-profit organizations, high net worth individuals, and other consumers. As of December 31, 2009, it operated 37 branch locations. The company is headquartered in Las Vegas, Nevada.
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