FTN Midwest Downgrades Capital Corp (CCOW) to Neutral on Heels of Q3 EPS Warning
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FTN Midwest downgrades Capital Corp. of the West (Nasdaq: CCOW) from Buy to Neutral.
Last night, the Company said, due to the current interest rate environment and increased competition for deposits, it believes the current Thomson First Call consensus EPS estimate of $0.55 for the third quarter of this year is too high.
Dave Heaberlin, Treasurer and Chief Financial Officer, commented: "While we expect to continue our policy of not providing specific guidance, we believe a more realistic expectation for our Q3 core financial performance (excluding non-recurring gains and expenses) would be $0.47 to $0.50 per share."
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