East West Bancorp, Inc. (EWBC) Lifted to “Market Perform” at Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of East West Bancorp, Inc. (NASDAQ:EWBC) from an underperform rating to a market perform rating in a research note released on Thursday, Marketbeat reports.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of East West Bancorp from a hold rating to a buy rating and set a $63.00 price objective for the company in a research report on Monday, July 31st. Piper Jaffray Companies set a $68.00 price objective on shares of East West Bancorp and gave the stock a buy rating in a research report on Saturday, June 17th. BidaskClub upgraded shares of East West Bancorp from a hold rating to a buy rating in a research report on Thursday, June 15th. Finally, Morgan Stanley reiterated an equal weight rating and set a $60.00 price objective (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. East West Bancorp has an average rating of Hold and an average target price of $63.13.

Shares of East West Bancorp (NASDAQ:EWBC) opened at 60.01 on Thursday. The stock’s 50 day moving average is $56.51 and its 200 day moving average is $55.72. East West Bancorp has a 1-year low of $37.75 and a 1-year high of $60.74. The company has a market capitalization of $8.67 billion, a PE ratio of 17.14 and a beta of 1.46.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period in the prior year, the company earned $0.71 EPS. On average, equities research analysts anticipate that East West Bancorp will post $3.71 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/09/east-west-bancorp-inc-ewbc-lifted-to-market-perform-at-raymond-james-financial-inc.html.

In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now directly owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC increased its position in East West Bancorp by 3.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 3,676,165 shares of the financial services provider’s stock valued at $215,350,000 after acquiring an additional 132,152 shares during the period. USA Financial Portformulas Corp acquired a new position in East West Bancorp in the 2nd quarter valued at approximately $302,000. Toronto Dominion Bank acquired a new position in East West Bancorp in the 2nd quarter valued at approximately $104,000. Hahn Capital Management LLC acquired a new position in East West Bancorp in the 2nd quarter valued at approximately $21,380,000. Finally, Cetera Investment Advisers increased its position in East West Bancorp by 5.8% in the 2nd quarter. Cetera Investment Advisers now owns 4,827 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 266 shares during the period. H

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of East West Bancorp from a hold rating to a buy rating and set a $63.00 price objective for the company in a research report on Monday, July 31st. Piper Jaffray Companies set a $68.00 price objective on shares of East West Bancorp and gave the stock a buy rating in a research report on Saturday, June 17th. BidaskClub upgraded shares of East West Bancorp from a hold rating to a buy rating in a research report on Thursday, June 15th. Finally, Morgan Stanley reiterated an equal weight rating and set a $60.00 price objective (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. East West Bancorp has an average rating of Hold and an average target price of $63.13.

Shares of East West Bancorp (NASDAQ:EWBC) opened at 60.01 on Thursday. The stock’s 50 day moving average is $56.51 and its 200 day moving average is $55.72. East West Bancorp has a 1-year low of $37.75 and a 1-year high of $60.74. The company has a market capitalization of $8.67 billion, a PE ratio of 17.14 and a beta of 1.46.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period in the prior year, the company earned $0.71 EPS. On average, equities research analysts anticipate that East West Bancorp will post $3.71 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/09/east-west-bancorp-inc-ewbc-lifted-to-market-perform-at-raymond-james-financial-inc.html.

In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now directly owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC increased its position in East West Bancorp by 3.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 3,676,165 shares of the financial services provider’s stock valued at $215,350,000 after acquiring an additional 132,152 shares during the period. USA Financial Portformulas Corp acquired a new position in East West Bancorp in the 2nd quarter valued at approximately $302,000. Toronto Dominion Bank acquired a new position in East West Bancorp in the 2nd quarter valued at approximately $104,000. Hahn Capital Management LLC acquired a new position in East West Bancorp in the 2nd quarter valued at approximately $21,380,000. Finally, Cetera Investment Advisers increased its position in East West Bancorp by 5.8% in the 2nd quarter. Cetera Investment Advisers now owns 4,827 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 90.48% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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