KBW Lowers Citizens South Banking Earnings Estimates (CSBC)

Keefe, Bruyette & Woods Inc. lowered its FY10 and FY11 earnings estimates for Citizens South Banking Corp. CSBC today. KBW maintained its Market Perform rating on the stock. Keefe, Bruyette & Woods "advocate a market weight position on the regional banks. While fundamentals remain under pressure, with late cycle credit risk, higher regulatory expenses & service charge headwinds, the industry has better access to capital & is now far enough through the credit cycle, given current valuations, in our view." KBW lowered "2010 and 2011 EPS slightly, while maintaining [the] same normalized EPS range." KBW maintains a $7 price target on the stock. Citizens South Banking Corp. offers banking services primarily in central North Carolina and North Georgia. Shares are flat today, at $5.50.