Piper Jaffray Companies restated their buy rating on shares of East West Bancorp (NASDAQ:EWBC) in a research note released on Tuesday, January 9th. The firm currently has a $79.00 target price on the financial services provider’s stock.
A number of other research analysts have also commented on the company. Zacks Investment Research raised East West Bancorp from a hold rating to a buy rating and set a $70.00 price target on the stock in a report on Monday, January 8th. Sandler O’Neill reissued a buy rating and set a $69.00 price target on shares of East West Bancorp in a report on Thursday, January 4th. Barclays raised their price target on East West Bancorp from $66.00 to $70.00 and gave the company an overweight rating in a report on Tuesday, January 2nd. ValuEngine raised East West Bancorp from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Morgan Stanley raised their target price on East West Bancorp from $61.00 to $69.00 and gave the company an equal weight rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $67.25.
East West Bancorp (EWBC) traded down $0.31 during trading on Tuesday, hitting $66.90. The stock had a trading volume of 789,376 shares, compared to its average volume of 917,750. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $9,670.00, a PE ratio of 18.33, a P/E/G ratio of 1.49 and a beta of 1.46. East West Bancorp has a 12 month low of $48.07 and a 12 month high of $67.76.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same period in the prior year, the company posted $0.76 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. equities analysts forecast that East West Bancorp will post 3.49 EPS for the current year.
In other East West Bancorp news, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now directly owns 18,015 shares in the company, valued at approximately $1,103,598.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herman Y. Li sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the director now owns 40,130 shares of the company’s stock, valued at $2,447,930. The disclosure for this sale can be found here. Insiders sold a total of 17,200 shares of company stock valued at $1,044,054 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds 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 worth about $104,000. National Pension Service purchased a new stake in shares of East West Bancorp during the 4th quarter worth about $116,000. Contravisory Investment Management Inc. purchased a new stake in shares of East West Bancorp during the 4th quarter worth about $129,000. San Francisco Sentry Investment Group CA bought a new position in shares of East West Bancorp in the 2nd quarter valued at approximately $138,000. Finally, D.A. Davidson & CO. raised its stake in shares of East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 26 shares in the last quarter. 91.38% of the stock is owned by 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.
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