East West Bancorp, Inc. (EWBC) Given Consensus Rating of “Hold” by Brokerages

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have earned an average rating of “Hold” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $67.25.

A number of equities analysts have weighed in on EWBC shares. Piper Jaffray Companies set a $74.00 target price on shares of East West Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. Wedbush reaffirmed an “outperform” rating and issued a $66.00 target price (down from $68.00) on shares of East West Bancorp in a research note on Friday, October 20th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, October 24th. SunTrust Banks reissued a “buy” rating and set a $68.00 price target on shares of East West Bancorp in a research note on Wednesday, November 29th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research note on Wednesday, October 4th.

Shares of East West Bancorp (EWBC) traded up $0.18 during midday trading on Monday, hitting $67.32. 1,114,100 shares of the company’s stock were exchanged, compared to its average volume of 968,778. East West Bancorp has a one year low of $48.07 and a one year high of $67.61. The company has a market capitalization of $9,730.00, a P/E ratio of 18.44, a PEG ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current 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 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 during the quarter, compared to the consensus estimate of $349.28 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. research analysts expect that East West Bancorp will post 3.5 earnings per share for the current year.

In other East West Bancorp news, Director Jack C. Liu sold 2,200 shares of the company’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 value of $127,754.00. Following the completion of the sale, the director now owns 23,599 shares of the company’s stock, valued at $1,370,393.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the sale, the director now directly owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,200 shares of company stock valued at $1,044,054. 0.88% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake 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 valued at $780,841,000 after purchasing an additional 1,373,528 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $745,971,000 after buying an additional 893,764 shares during the period. State Street Corp boosted its holdings 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 buying an additional 1,004,860 shares during the period. Boston Partners boosted its holdings 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 buying an additional 50,476 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings 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 buying an additional 178,496 shares during the period. 91.38% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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