East West Bancorp (NASDAQ:EWBC) Stock Rating Reaffirmed by Wedbush

East West Bancorp (NASDAQ:EWBC - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $90.00 price target on the financial services provider's stock. Wedbush's price objective would indicate a potential upside of 16.58% from the company's current price.

Several other equities analysts have also weighed in on EWBC. Piper Sandler raised their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the company a "neutral" rating in a research report on Wednesday, January 24th. Truist Financial lifted their price target on shares of East West Bancorp from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Citigroup lifted their price target on shares of East West Bancorp from $85.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. Morgan Stanley lifted their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Finally, Barclays began coverage on shares of East West Bancorp in a research report on Friday, March 8th. They issued an "overweight" rating and a $106.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.38.

East West Bancorp Price Performance

EWBC stock traded up $1.90 during trading on Wednesday, hitting $77.20. The company had a trading volume of 1,730,205 shares, compared to its average volume of 1,221,299. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 0.95 and a beta of 1.39. The business has a 50 day moving average of $74.58 and a 200 day moving average of $68.28. East West Bancorp has a fifty-two week low of $41.12 and a fifty-two week high of $79.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.00 by $0.08. The company had revenue of $644.13 million during the quarter, compared to analysts' expectations of $636.77 million. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $2.32 earnings per share. As a group, research analysts predict that East West Bancorp will post 7.87 earnings per share for the current year.

Insider Activity

In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the transaction, the director now directly owns 16,739 shares of the company's stock, valued at $1,231,655.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the completion of the sale, the director now directly owns 10,321 shares of the company's stock, valued at approximately $797,400.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now directly owns 16,739 shares of the company's stock, valued at $1,231,655.62. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.

Institutional Trading of East West Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its position in shares of East West Bancorp by 29.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 840 shares of the financial services provider's stock worth $60,000 after buying an additional 190 shares during the period. Denali Advisors LLC grew its position in shares of East West Bancorp by 66.7% during the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider's stock worth $36,000 after buying an additional 200 shares during the period. First Horizon Advisors Inc. grew its position in shares of East West Bancorp by 65.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider's stock worth $28,000 after buying an additional 211 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of East West Bancorp by 52.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 666 shares of the financial services provider's stock worth $48,000 after buying an additional 230 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of East West Bancorp by 9.4% during the 4th quarter. Fifth Third Bancorp now owns 2,714 shares of the financial services provider's stock worth $195,000 after buying an additional 233 shares during the period. 89.53% of the stock is 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.