East West Bancorp (NASDAQ:EWBC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday, March 16th.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Deutsche Bank raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. ValuEngine raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley boosted their target price on shares of East West Bancorp from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, Barclays boosted their target price on shares of East West Bancorp from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. East West Bancorp presently has an average rating of “Buy” and a consensus price target of $70.08.
Shares of East West Bancorp stock traded down $1.65 during midday trading on Friday, hitting $60.41. 1,093,488 shares of the company traded hands, compared to its average volume of 1,189,702. The firm has a market capitalization of $8,731.90, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.31 and a beta of 1.42. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. East West Bancorp has a 12 month low of $48.76 and a 12 month high of $69.25.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The company had revenue of $365.06 million for 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 company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. research analysts anticipate that East West Bancorp will post 4.4 earnings per share for the current year.
In other news, CFO Irene H. Oh sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $68.29, for a total value of $341,450.00. Following the sale, the chief financial officer now directly owns 38,021 shares of the company’s stock, valued at approximately $2,596,454.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Molly Campbell sold 461 shares of the company’s stock in a transaction on 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 directly owns 5,448 shares in the company, valued at $354,719.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,461 shares of company stock worth $641,846. Insiders own 0.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of East West Bancorp by 1.5% during the 4th quarter. BlackRock Inc. now owns 13,767,215 shares of the financial services provider’s stock valued at $837,459,000 after acquiring an additional 199,886 shares during the period. Boston Partners lifted its position in shares of East West Bancorp by 3.2% during the 4th quarter. Boston Partners now owns 6,828,822 shares of the financial services provider’s stock valued at $415,397,000 after acquiring an additional 209,514 shares during the period. Macquarie Group Ltd. lifted its position in shares of East West Bancorp by 4.2% during the 3rd quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock valued at $265,465,000 after acquiring an additional 178,496 shares during the period. JPMorgan Chase & Co. raised its holdings in East West Bancorp by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 4,395,572 shares of the financial services provider’s stock worth $260,261,000 after buying an additional 62,345 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in East West Bancorp by 11.3% during the fourth quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock worth $177,381,000 after buying an additional 294,977 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.
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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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