Why RCBC is a Good Buy.

 RCBC posted P 1.53 Billion in Net Income for the 1st Quarter of 2012, P 506 Million or 49.47% higher than the P 1.02 Billion registered during the same period last year .  Annualized Return on Average Equity remained strong at 15.64%. Total Operating Income increased by 28.53% to P 5.61 Billion as Net Interest Income grew by 6.11% or P 156 Million to P 2.7 Billion.


Fundamentals are strong and the basic criteria for a cheap stock called the Price to earnings ratio (P/E) is only
34  compared to an average of  54 to other banking institutions.


Technicals are also bullish as the 8 days moving average cross above the 32 days EMA.  Volume, OBV  and MACD are all pointing up signifying an upward trend.

9May2012_RCBC

Since February I recommend  a buy signal for RCBC at P 30 / share.