East West Bancorp (NASDAQ:EWBC) Upgraded by BidaskClub to Hold

East West Bancorp (NASDAQ:EWBC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday, February 9th.

A number of other brokerages also recently commented on EWBC. BMO Capital Markets boosted their target price on shares of East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, January 8th. Sandler O’Neill restated a “buy” rating and set a $76.00 price target on shares of East West Bancorp in a research note on Friday, January 26th. ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, SunTrust Banks restated a “buy” rating and set a $65.00 price target on shares of East West Bancorp in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. East West Bancorp has a consensus rating of “Hold” and a consensus target price of $69.50.

East West Bancorp (NASDAQ:EWBC) traded up $0.03 during mid-day trading on Friday, hitting $66.85. The company had a trading volume of 694,959 shares, compared to its average volume of 857,210. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $9,670.00, a P/E ratio of 19.27, a P/E/G ratio of 1.45 and a beta of 1.45. East West Bancorp has a 12-month low of $48.07 and a 12-month high of $69.25.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. analysts predict that East West Bancorp will post 4.4 EPS for the current year.

In other news, Director Jack C. Liu sold 2,200 shares of the company’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 transaction of $127,754.00. Following the completion of the transaction, the director now directly owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Paul Krause sold 5,000 shares of the company’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 value of $306,300.00. Following the transaction, the insider now directly owns 18,015 shares of the company’s stock, valued at $1,103,598.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,200 shares of company stock worth $704,434. Insiders own 0.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EWBC. Advisor Group Inc. raised its stake in East West Bancorp by 14.0% in the 2nd quarter. Advisor Group Inc. now owns 4,247 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 523 shares during the last quarter. Stifel Financial Corp raised its stake in East West Bancorp by 4.1% in the 2nd quarter. Stifel Financial Corp now owns 16,173 shares of the financial services provider’s stock valued at $945,000 after purchasing an additional 633 shares during the last quarter. Royal Bank of Canada raised its stake in East West Bancorp by 156.1% in the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock valued at $4,260,000 after purchasing an additional 44,336 shares during the last quarter. Janus Henderson Group PLC raised its stake in East West Bancorp by 18.5% in the 2nd quarter. Janus Henderson Group PLC now owns 589,479 shares of the financial services provider’s stock valued at $34,531,000 after purchasing an additional 92,228 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in East West Bancorp by 25.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 30,331 shares of the financial services provider’s stock valued at $1,776,000 after purchasing an additional 6,079 shares during the last quarter. 90.90% 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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