East West Bancorp, Inc. (EWBC) Receives Consensus Recommendation of “Hold” from Brokerages

East West Bancorp, Inc. (NASDAQ:EWBC) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $65.22.

EWBC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Barclays set a $66.00 target price on shares of East West Bancorp and gave the stock a “buy” rating in a research note on Friday, October 20th. BMO Capital Markets lifted their price target on shares of East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. DA Davidson reaffirmed a “hold” rating and issued a $63.00 price target on shares of East West Bancorp in a research note on Friday, October 20th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $65.00 price target on shares of East West Bancorp in a research note on Thursday, October 12th.

In related news, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the transaction, the director now directly owns 40,130 shares in the company, valued at $2,447,930. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 2,200 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the transaction, the director now owns 23,599 shares in the company, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders have sold 17,200 shares of company stock valued at $1,044,054 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares during the period. Vanguard Group Inc. raised its position in East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares during the period. State Street Corp raised its position in shares of East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after purchasing an additional 1,004,860 shares during the period. Boston Partners raised its position in shares of East West Bancorp by 0.8% in the third quarter. Boston Partners now owns 6,619,308 shares of the financial services provider’s stock valued at $395,702,000 after purchasing an additional 50,476 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of East West Bancorp by 4.2% in the third quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock valued at $265,465,000 after purchasing an additional 178,496 shares during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp (NASDAQ EWBC) traded up $0.45 during mid-day trading on Thursday, hitting $61.41. 710,464 shares of the stock traded hands, compared to its average volume of 926,766. East West Bancorp has a 12-month low of $48.07 and a 12-month high of $63.92. The company has a market capitalization of $8,837.35, a P/E ratio of 18.31, a P/E/G ratio of 1.67 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99.

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 analysts’ consensus estimates of $0.86 by $0.03. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The business had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. During the same quarter last year, the firm earned $0.76 earnings per share. East West Bancorp’s quarterly revenue was up 15.0% on a year-over-year basis. sell-side analysts expect that East West Bancorp will post 3.49 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This article was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://ledgergazette.com/2018/01/13/east-west-bancorp-inc-ewbc-receives-consensus-recommendation-of-hold-from-brokerages.html.

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)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply