East West Bancorp (NASDAQ:EWBC)'s stock had its "hold" rating reissued by equities researchers at Wells Fargo & Co in a research report issued on Tuesday, AnalystRatings.com reports.
Several other research firms have also recently weighed in on EWBC. UBS Group upped their price objective on shares of East West Bancorp from $24.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, May 15th. BidaskClub lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, June 18th. SunTrust Banks boosted their price objective on shares of East West Bancorp from $220.00 to $260.00 in a research report on Tuesday, June 30th. Morgan Stanley upped their target price on East West Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Finally, Compass Point started coverage on East West Bancorp in a research note on Tuesday, April 14th. They issued a "neutral" rating on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of "Hold" and an average target price of $64.44.
Shares of EWBC stock opened at $34.79 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.92 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.94 and a beta of 2.03. The stock has a 50 day simple moving average of $36.39 and a 200 day simple moving average of $38.50. East West Bancorp has a 1 year low of $22.55 and a 1 year high of $51.88.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.97 by $0.03. The firm had revenue of $416.76 million during the quarter, compared to analysts' expectations of $401.75 million. East West Bancorp had a return on equity of 14.00% and a net margin of 31.34%. During the same period in the previous year, the firm earned $1.16 EPS. Analysts forecast that East West Bancorp will post 3.7 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arden Trust Co bought a new stake in East West Bancorp during the 1st quarter worth $38,000. Private Capital Group LLC grew its holdings in shares of East West Bancorp by 39.1% during the first quarter. Private Capital Group LLC now owns 2,160 shares of the financial services provider's stock worth $56,000 after purchasing an additional 607 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of East West Bancorp during the fourth quarter worth about $57,000. Smithfield Trust Co. increased its stake in shares of East West Bancorp by 2,775.0% in the first quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider's stock valued at $59,000 after buying an additional 2,220 shares during the period. Finally, Pendal Group Ltd raised its holdings in East West Bancorp by 65.7% in the 1st quarter. Pendal Group Ltd now owns 3,062 shares of the financial services provider's stock valued at $79,000 after buying an additional 1,214 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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