4. West Coast Bancorp
Shares of West Coast Bancorp (WCBO) of Lake Oswego, Ore., closed at $3.47 Thursday, returning 23% during the first quarter, after an eventful 2010, which included raising $17.8 million in common equity.
The company is seeking shareholder approval for 1-for-5 reverse stock split. Shareholders will vote at the company's annual meeting on April 26.On March 3, Sandler O'Neill's Joe Fenech upgraded his rating for West Coast Bancorp to a buy with a $3.65 price target, saying that the company is "among the more valuable in the Pacific Northwest region, given its high quality deposit base, commercial lending niche, and attractive, complementary fee-based businesses." West Coast Bancorp is scheduled to report its first-quarter results on April 25. The consensus among analysts is for the company to report earnings of 4 cents a share for the first quarter, 20 cents a share of 2011 and 24 cents a share in 2012. Two of the four analysts covering West Coast Bancorp rate the shares a buy, while the other two analysts have neutral ratings.
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