East West Bancorp (NASDAQ:EWBC - Get Free Report) had its price objective boosted by investment analysts at Citigroup from $139.00 to $145.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Citigroup's target price suggests a potential upside of 19.37% from the stock's current price.
Several other research analysts have also commented on EWBC. Stephens lifted their target price on East West Bancorp from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods lifted their target price on East West Bancorp from $131.00 to $135.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Barclays decreased their target price on East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Truist Financial set a $121.00 target price on East West Bancorp in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of East West Bancorp in a research report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $129.86.
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East West Bancorp Stock Up 0.5%
EWBC stock traded up $0.58 during midday trading on Wednesday, hitting $121.48. 1,221,483 shares of the company's stock were exchanged, compared to its average volume of 1,130,565. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. East West Bancorp has a 12-month low of $83.11 and a 12-month high of $124.84. The firm has a 50 day moving average price of $111.75 and a 200-day moving average price of $110.16. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.90.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.46 by $0.11. The company had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.The business's revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. On average, analysts anticipate that East West Bancorp will post 10.25 EPS for the current year.
Insider Buying and Selling
In related news, Director Jack C. Liu sold 1,421 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $119.00, for a total transaction of $169,099.00. Following the completion of the transaction, the director owned 13,553 shares in the company, valued at $1,612,807. The trade was a 9.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dominic Ng sold 50,000 shares of East West Bancorp stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $117.82, for a total value of $5,891,000.00. Following the sale, the chief executive officer directly owned 808,331 shares in the company, valued at $95,237,558.42. The trade was a 5.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 60,221 shares of company stock worth $7,139,287. 1.04% of the stock is owned by company insiders.
Institutional Trading of East West Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its stake in shares of East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider's stock worth $42,000 after buying an additional 102 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of East West Bancorp by 1.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider's stock worth $604,000 after buying an additional 102 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of East West Bancorp by 1.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider's stock worth $1,033,000 after buying an additional 102 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of East West Bancorp by 1.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider's stock worth $720,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of East West Bancorp by 4.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider's stock worth $277,000 after buying an additional 108 shares in the last quarter. Institutional investors own 89.53% of the company's stock.
East West Bancorp News Summary
Here are the key news stories impacting East West Bancorp this week:
East West Bancorp Company Profile
(
Get Free Report)
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
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