Bank stock performance has been pretty "meh" of late and Wilshire Bancorp (NASDAQ:WIBC) is no exception. That Wilshire has done better than the S&P Regional Banking ETF (NYSEARCA:KRE) and other California-based banks like BBCN Bancorp (NASDAQ:BBCN) and CVB Financial (NASDAQ:CVBF) since my last article is cold comfort, as the shares are down slightly over that period.
Wilshire
has been making some progress in important areas like reducing core
operating expenses and diversifying the loan book, but modest sequential
revenue growth and greater pressure on interest margins is perhaps the
bigger takeaway today. I do believe that Wilshire Bancorp remains
fundamentally undervalued, but small bank stocks can take time (and a
lot of patience) to deliver their value.
Click this link for more:
Strong Loan Growth Not Enough For Wilshire Bancorp
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