East West Bancorp (NASDAQ:EWBC)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a report issued on Tuesday. They presently have a $72.00 price objective on the financial services provider’s stock, up from their previous price objective of $65.00. Wells Fargo & Co’s price target would suggest a potential upside of 7.24% from the stock’s current price.
EWBC has been the topic of several other reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research note on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $61.00 price objective on shares of East West Bancorp in a research note on Thursday, October 5th. Zacks Investment Research raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. DA Davidson reaffirmed a “hold” rating and issued a $63.00 price objective on shares of East West Bancorp in a research note on Friday, October 20th. Finally, Piper Jaffray Companies set a $74.00 price target on East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.25.
East West Bancorp (EWBC) traded up $1.24 during midday trading on Tuesday, hitting $67.14. The stock had a trading volume of 957,297 shares, compared to its average volume of 950,615. The firm has a market cap of $9,700.00, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.55 and a beta of 1.46. East West Bancorp has a fifty-two week low of $48.07 and a fifty-two week high of $67.60. 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 released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The business had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. equities analysts expect that East West Bancorp will post 3.49 earnings per share for the current fiscal year.
In related news, 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 directly owns 18,015 shares of the company’s stock, valued at approximately $1,103,598.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the transaction, the director now directly 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 a total of 17,200 shares of company stock worth $1,044,054 over the last three months. 0.88% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in East West Bancorp by 11.5% during the 2nd quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after purchasing an additional 1,373,528 shares during the last quarter. Vanguard Group Inc. increased its holdings in East West Bancorp by 7.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after purchasing an additional 893,764 shares during the last quarter. State Street Corp increased its holdings in East West Bancorp by 16.5% during the 2nd quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after purchasing an additional 1,004,860 shares during the last quarter. Boston Partners increased its holdings in East West Bancorp by 0.8% during the 3rd quarter. Boston Partners now owns 6,619,308 shares of the financial services provider’s stock worth $395,702,000 after purchasing an additional 50,476 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in East West Bancorp by 4.2% during the 3rd quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock worth $265,465,000 after purchasing an additional 178,496 shares during the last quarter. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
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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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