Keefe, Bruyette and Woods Upgrades Southwest Bancorp (OKSB) to Outperform

October 22, 2008 7:52 AM EDT

Keefe, Bruyette and Woods upgrades Southwest Bancorp, Inc. (Nasdaq: OKSB) to Outperform. Price target $18.

Keefe analyst says, "Two large relationships impacted asset quality during the quarter. NPAs nearly doubled to $64M and NCOs increased to 38 bps. The watchlist stands at $86 million or 3.4% of loans. We believe OKSP will access the TARP. We are lowering our 2008 EPS estimate to $0.87 and our 2009 EPS estimate to $1.10."

Southwest Bancorp, Inc. (Southwest) is the financial holding company for the Stillwater National Bank and Trust Company, SNB Bank of Wichita, Bank of Kansas (SNB Kansas), Business Consulting Group, Inc. and Healthcare Strategic Support, Inc.


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