East West Bancorp (NASDAQ:EWBC) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• East West Bancorp's stock price target has been raised from $112 to $116 by Truist Financial, indicating a potential upside of 13.47% from its previous close.
• Wells Fargo upgraded their price objective on the stock to $125.00, while TD Cowen initiated coverage with a buy rating and a price target of $139.00.
• Current consensus on East West Bancorp’s stock is a Moderate Buy, with an average price target of $122.43 based on ratings from eleven analysts.

East West Bancorp (NASDAQ:EWBC - Get Free Report) had its price target boosted by stock analysts at Truist Financial from $112.00 to $116.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price would indicate a potential upside of 13.47% from the stock's previous close.

Several other brokerages have also recently issued reports on EWBC. Wells Fargo & Company lifted their price objective on East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lifted their price objective on East West Bancorp from $100.00 to $104.00 and gave the company a "neutral" rating in a research note on Monday, September 8th. TD Cowen began coverage on East West Bancorp in a research note on Thursday, September 25th. They issued a "buy" rating and a $139.00 price objective for the company. Cantor Fitzgerald began coverage on East West Bancorp in a research report on Wednesday, September 10th. They set an "overweight" rating and a $124.00 target price on the stock. Finally, Wall Street Zen raised East West Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.43.

East West Bancorp Trading Down 0.1%

East West Bancorp stock traded down $0.13 during midday trading on Thursday, reaching $102.23. 78,102 shares of the stock traded hands, compared to its average volume of 1,004,599. The company has a 50-day simple moving average of $104.96 and a two-hundred day simple moving average of $97.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. The firm has a market cap of $14.09 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. East West Bancorp has a 12-month low of $68.27 and a 12-month high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter. The business had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.85% and a net margin of 27.16%. Research analysts expect that East West Bancorp will post 8.85 earnings per share for the current fiscal year.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total transaction of $105,000.00. Following the transaction, the director owned 14,974 shares of the company's stock, valued at $1,572,270. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $103.38, for a total value of $4,135,200.00. Following the transaction, the chief executive officer directly owned 888,314 shares in the company, valued at approximately $91,833,901.32. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,240 shares of company stock worth $7,379,678. 1.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of East West Bancorp by 38.5% in the second quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider's stock valued at $1,078,807,000 after purchasing an additional 2,968,716 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of East West Bancorp by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,819,273 shares of the financial services provider's stock valued at $486,650,000 after purchasing an additional 86,171 shares during the period. First Trust Advisors LP boosted its stake in shares of East West Bancorp by 3.2% in the second quarter. First Trust Advisors LP now owns 4,294,317 shares of the financial services provider's stock valued at $433,640,000 after buying an additional 134,541 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of East West Bancorp by 1.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,005,394 shares of the financial services provider's stock valued at $359,525,000 after buying an additional 46,717 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of East West Bancorp by 39.6% in the second quarter. Boston Partners now owns 3,241,088 shares of the financial services provider's stock valued at $327,271,000 after buying an additional 920,159 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

About East West Bancorp

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.

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