Truist Financial Raises East West Bancorp (NASDAQ:EWBC) Price Target to $110.00

East West Bancorp (NASDAQ:EWBC - Get Free Report) had its price target lifted by equities researchers at Truist Financial from $102.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Truist Financial's price objective would indicate a potential upside of 2.85% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the company. Barclays lifted their target price on East West Bancorp from $110.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday. Morgan Stanley cut East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Wells Fargo & Company lifted their target price on East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday. DA Davidson reduced their price objective on East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup boosted their price objective on East West Bancorp from $100.00 to $116.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $112.85.

East West Bancorp Price Performance

NASDAQ:EWBC traded down $1.19 on Friday, reaching $106.95. 830,053 shares of the company's stock traded hands, compared to its average volume of 932,354. East West Bancorp has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $95.68 and a 200-day simple moving average of $92.82. The firm has a market cap of $14.74 billion, a PE ratio of 12.76, a P/E/G ratio of 1.46 and a beta of 0.93.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. East West Bancorp had a return on equity of 15.23% and a net margin of 25.73%. The firm had revenue of $693.00 million for the quarter, compared to analysts' expectations of $673.02 million. Equities research analysts forecast that East West Bancorp will post 8.85 earnings per share for the current year.

Insider Activity at East West Bancorp

In related news, EVP Lisa L. Kim sold 2,100 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the completion of the sale, the executive vice president owned 14,849 shares in the company, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dominic Ng sold 40,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00. Following the completion of the sale, the chief executive officer owned 928,314 shares of the company's stock, valued at $89,517,319.02. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Institutional Trading of East West Bancorp

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in East West Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,197,068 shares of the financial services provider's stock worth $1,359,511,000 after buying an additional 70,503 shares during the period. FMR LLC lifted its holdings in East West Bancorp by 1.4% during the fourth quarter. FMR LLC now owns 7,990,468 shares of the financial services provider's stock worth $765,167,000 after buying an additional 107,665 shares during the period. Invesco Ltd. lifted its holdings in East West Bancorp by 155.6% during the first quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider's stock worth $692,468,000 after buying an additional 4,696,157 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in East West Bancorp by 7.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,733,102 shares of the financial services provider's stock worth $424,843,000 after buying an additional 314,262 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in East West Bancorp by 1.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,005,394 shares of the financial services provider's stock worth $359,525,000 after buying an additional 46,717 shares during the period. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.