East West Bancorp (NASDAQ:EWBC) had its target price hoisted by analysts at Barclays from $66.00 to $70.00 in a research note issued on Tuesday, January 2nd, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays’ price target indicates a potential upside of 3.98% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, December 25th. Morgan Stanley increased their target price on shares of East West Bancorp from $61.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. SunTrust Banks reissued a “buy” rating and set a $68.00 target price on shares of East West Bancorp in a research report on Wednesday, November 29th. Finally, Piper Jaffray Companies set a $74.00 target price on shares of East West Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $67.25.
East West Bancorp (NASDAQ EWBC) traded up $0.18 on Tuesday, hitting $67.32. 1,110,000 shares of the company were exchanged, compared to its average volume of 858,752. 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 has a 12 month low of $48.07 and a 12 month high of $67.61. The firm has a market cap of $9,730.00, a price-to-earnings ratio of 18.44, a PEG ratio of 1.51 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same quarter in the prior year, the business posted $0.76 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. sell-side analysts predict that East West Bancorp will post 3.5 earnings per share for the current fiscal year.
In other news, Director Jack C. Liu sold 2,200 shares of the firm’s stock in a transaction 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 sale, the director now owns 23,599 shares in the company, valued at approximately $1,370,393.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the sale, the insider now owns 18,015 shares in the company, valued at approximately $1,103,598.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,200 shares of company stock valued at $1,044,054. 0.88% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of EWBC. Toronto Dominion Bank purchased a new stake in shares of East West Bancorp during the 2nd quarter valued at $104,000. Strs Ohio purchased a new stake in shares of East West Bancorp during the 2nd quarter valued at $110,000. San Francisco Sentry Investment Group CA purchased a new stake in shares of East West Bancorp during the 2nd quarter valued at $138,000. D.A. Davidson & CO. raised its position in shares of East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after buying an additional 26 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in shares of East West Bancorp during the 2nd quarter valued at $149,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
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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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