East West Bancorp (NASDAQ:EWBC - Get Free Report) had its price objective boosted by equities researchers at UBS Group from $125.00 to $138.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's price target suggests a potential upside of 13.03% from the company's current price.
Several other research firms also recently issued reports on EWBC. Weiss Ratings reiterated a "buy (b-)" rating on shares of East West Bancorp in a research note on Monday, December 29th. TD Cowen decreased their price target on East West Bancorp from $141.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, January 26th. Zacks Research downgraded East West Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 price target on shares of East West Bancorp in a research note on Wednesday. Finally, Truist Financial set a $121.00 price target on East West Bancorp in a research note on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.79.
Read Our Latest Stock Analysis on East West Bancorp
East West Bancorp Stock Up 1.0%
EWBC stock traded up $1.19 during mid-day trading on Wednesday, hitting $122.09. The stock had a trading volume of 1,809,522 shares, compared to its average volume of 1,139,435. 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 1-year low of $83.11 and a 1-year high of $124.84. The company has a fifty day moving average of $111.75 and a 200 day moving average of $110.16. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 12.82, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.11. The company had revenue of $773.75 million for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 EPS. On average, equities analysts expect that East West Bancorp will post 10.25 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Jack C. Liu sold 1,421 shares of the 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 sale, the director owned 13,553 shares in the company, valued at $1,612,807. This represents a 9.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Molly Campbell sold 1,800 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $122.81, for a total value of $221,058.00. Following the sale, the director owned 5,756 shares of the company's stock, valued at approximately $706,894.36. The trade was a 23.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 60,221 shares of company stock worth $7,139,287 in the last 90 days. 1.04% of the stock is owned by company insiders.
Hedge Funds Weigh In On East West Bancorp
Several large investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 102 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in 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 valued at $604,000 after acquiring an additional 102 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in 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 valued at $1,033,000 after acquiring an additional 102 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in 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 valued at $720,000 after acquiring an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 valued at $277,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.
Trending Headlines about East West Bancorp
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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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