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.
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.
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