East West Bancorp (NASDAQ:EWBC) Price Target Raised to $110.00

East West Bancorp (NASDAQ:EWBC - Get Free Report) had its price target boosted by analysts at Truist Financial from $102.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price would indicate a potential upside of 1.85% from the company's previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group started coverage on East West Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $115.00 price target for the company. DA Davidson cut their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Citigroup boosted their price target on shares of East West Bancorp from $100.00 to $116.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. 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, July 8th. Finally, Wall Street Zen lowered East West Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, East West Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $112.85.

East West Bancorp Stock Performance

Shares of EWBC traded up $1.05 during mid-day trading on Friday, hitting $108.00. 652,424 shares of the company traded hands, compared to its average volume of 932,014. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.45 and a beta of 0.93. The stock has a 50-day moving average price of $96.04 and a two-hundred day moving average price of $92.83. East West Bancorp has a 1 year low of $68.27 and a 1 year high of $113.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced 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 business had revenue of $693.00 million for the quarter, compared to analysts' expectations of $673.02 million. Equities analysts anticipate that East West Bancorp will post 8.85 earnings per share for the current year.

Insiders Place Their Bets

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.43, for a total value of $3,857,200.00. Following the sale, the chief executive officer owned 928,314 shares in the company, valued at approximately $89,517,319.02. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa L. Kim sold 2,100 shares of the firm'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 transaction of $199,584.00. Following the sale, the executive vice president directly owned 14,849 shares in the company, valued at $1,411,248.96. The trade was a 12.39% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of East West Bancorp by 8.0% during the second quarter. GAMMA Investing LLC now owns 4,422 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 328 shares during the last quarter. Painted Porch Advisors LLC boosted its position in shares of East West Bancorp by 32.1% during the 2nd quarter. Painted Porch Advisors LLC now owns 5,838 shares of the financial services provider's stock valued at $590,000 after acquiring an additional 1,417 shares during the last quarter. Park Avenue Securities LLC acquired a new position in East West Bancorp in the 2nd quarter valued at about $491,000. UMB Bank n.a. grew its position in East West Bancorp by 12.7% in the second quarter. UMB Bank n.a. now owns 1,539 shares of the financial services provider's stock worth $155,000 after acquiring an additional 173 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of East West Bancorp during the 2nd quarter worth $1,976,000. 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.