UBS began coverage on shares of East West Bancorp (NASDAQ:EWBC) in a report issued on Thursday. The firm set a “buy” rating on the financial services provider’s stock.
EWBC has been the subject of several other research reports. BidaskClub upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Sandler O’Neill reiterated a “buy” rating and issued a $69.00 target price on shares of East West Bancorp in a report on Thursday, January 4th. Barclays increased their target price on shares of East West Bancorp from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Wells Fargo reiterated an “outperform” rating and issued a $72.00 target price (up previously from $65.00) on shares of East West Bancorp in a report on Tuesday, January 9th. Finally, ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. East West Bancorp has an average rating of “Buy” and an average target price of $69.50.
Shares of East West Bancorp stock opened at $65.21 on Thursday. The company has a market cap of $9,404.03, a PE ratio of 18.85, a PEG ratio of 1.41 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. East West Bancorp has a 1-year low of $48.07 and a 1-year high of $69.25.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. sell-side analysts expect that East West Bancorp will post 4.4 EPS for the current year.
In related news, Director Molly Campbell sold 461 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $65.11, for a total transaction of $30,015.71. Following the completion of the sale, the director now owns 5,448 shares in the company, valued at $354,719.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Irene H. Oh sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $68.29, for a total transaction of $341,450.00. Following the sale, the chief financial officer now owns 38,021 shares of the company’s stock, valued at approximately $2,596,454.09. The disclosure for this sale can be found here. Insiders have sold 9,461 shares of company stock valued at $641,846 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Colonial Trust Advisors boosted its position in East West Bancorp by 36.9% during the fourth quarter. Colonial Trust Advisors now owns 69,539 shares of the financial services provider’s stock worth $4,230,000 after purchasing an additional 18,751 shares during the period. Xact Kapitalforvaltning AB boosted its position in East West Bancorp by 3.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 40,431 shares of the financial services provider’s stock worth $2,459,000 after purchasing an additional 1,284 shares during the period. Handelsbanken Fonder AB boosted its position in East West Bancorp by 12.4% during the fourth quarter. Handelsbanken Fonder AB now owns 2,349,611 shares of the financial services provider’s stock worth $142,927,000 after purchasing an additional 260,000 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in East West Bancorp by 107.4% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 2,900 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in East West Bancorp during the fourth quarter worth about $5,563,000. Institutional investors and hedge funds own 91.66% 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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