Jefferies Maintains a 'Hold' on City National (CYN); Softer NIM Compression Lifts Estimates

Jefferies maintains a 'Hold' on City National (NYSE: CYN) price target raised from $43 to $47.

Jefferies analyst says, "We raise our estimates modestly following a slightly better net interest margin result in 4Q, but remain at the low end of a wide range in consensus. FDIC accounting continues to make earnings forecast difficult, but we see EPS runrates falling short of the $0.90/quarter level implied by consensus without a more aggressive capital return policy and/or expense controls."

(FY12 EPS estimate from $3.25 to $3.35 and FY13 from $3.45 to $3.60)

For an analyst ratings summary and ratings history on City National click here. For more ratings news on City National click here.

Shares of City National closed at $46.15 yesterday, with a 52 week range of $35.07-$61.22.

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