Piper Jaffray Companies reiterated their buy rating on shares of East West Bancorp (NASDAQ:EWBC) in a report published on Tuesday morning. They currently have a $79.00 price objective on the financial services provider’s stock.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of East West Bancorp from a hold rating to a buy rating and set a $70.00 target price on the stock in a research note on Monday. Sandler O’Neill reaffirmed a buy rating and set a $69.00 target price on shares of East West Bancorp in a research note on Thursday, January 4th. Barclays upped their target price on shares of East West Bancorp from $66.00 to $70.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. ValuEngine raised shares of East West Bancorp from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Morgan Stanley upped their target price on shares of East West Bancorp from $61.00 to $69.00 and gave the stock an equal weight rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $67.25.
East West Bancorp (NASDAQ EWBC) traded up $0.18 during trading on Tuesday, hitting $67.32. 1,114,125 shares of the stock were exchanged, compared to its average volume of 968,778. The stock has a market cap of $9,710.00, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. East West Bancorp has a twelve month low of $48.07 and a twelve month high of $67.61. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. East West Bancorp had a net margin of 37.60% and a return on equity of 14.28%. The firm had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. equities research analysts forecast that East West Bancorp will post 3.49 earnings per share for the current year.
In other East West Bancorp news, Director Jack C. Liu sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total transaction of $127,754.00. Following the completion of the transaction, the director now owns 23,599 shares in the company, valued at approximately $1,370,393.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Paul Krause sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the transaction, the insider now owns 18,015 shares of the company’s stock, valued at approximately $1,103,598.90. The disclosure for this sale can be found here. Insiders have sold a total of 17,200 shares of company stock valued at $1,044,054 in the last quarter. 0.88% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of EWBC. Schwab Charles Investment Management Inc. grew its holdings in East West Bancorp by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 580,977 shares of the financial services provider’s stock worth $34,034,000 after acquiring an additional 23,575 shares in the last quarter. Keybank National Association OH acquired a new position in shares of East West Bancorp in the 2nd quarter valued at $211,000. Commerce Bank acquired a new position in shares of East West Bancorp in the 2nd quarter valued at $251,000. Schroder Investment Management Group boosted its holdings in shares of East West Bancorp by 0.8% in the 2nd quarter. Schroder Investment Management Group now owns 479,121 shares of the financial services provider’s stock valued at $28,009,000 after buying an additional 3,799 shares in the last quarter. Finally, Tredje AP fonden acquired a new position in shares of East West Bancorp in the 2nd quarter valued at $299,000. Institutional investors own 91.37% of the company’s stock.
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About East West Bancorp
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.
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