ValuEngine Lowers East West Bancorp (EWBC) to Hold

ValuEngine lowered shares of East West Bancorp (NASDAQ:EWBC) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other brokerages have also commented on EWBC. UBS initiated coverage on shares of East West Bancorp in a report on Thursday, March 22nd. They issued a buy rating and a $77.00 price target on the stock. BidaskClub lowered shares of East West Bancorp from a hold rating to a sell rating in a report on Friday, March 16th. Sandler O’Neill reissued a buy rating and issued a $69.00 price target on shares of East West Bancorp in a report on Thursday, January 4th. Barclays increased their price target 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. Finally, Morgan Stanley increased their price target 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $70.08.

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NASDAQ EWBC opened at $65.54 on Wednesday. East West Bancorp has a 1 year low of $52.86 and a 1 year high of $69.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.00. The company has a market capitalization of $9,426.86, a price-to-earnings ratio of 17.59, a PEG ratio of 1.41 and a beta of 1.42.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.13. East West Bancorp had a net margin of 32.46% and a return on equity of 14.15%. The business had revenue of $401.14 million for the quarter, compared to analysts’ expectations of $364.81 million. During the same period in the prior year, the company posted $0.88 EPS. research analysts forecast that East West Bancorp will post 4.4 EPS for the current fiscal year.

In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.50, for a total transaction of $137,000.00. Following the transaction, the director now owns 21,599 shares of the company’s stock, valued at approximately $1,479,531.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Irene H. Oh sold 5,000 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $68.29, for a total transaction of $341,450.00. Following the transaction, the chief financial officer now directly owns 38,021 shares in the company, valued at approximately $2,596,454.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,461 shares of company stock worth $641,846. 0.88% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in EWBC. National Pension Service bought a new position in shares of East West Bancorp during the 4th quarter valued at $116,000. Contravisory Investment Management Inc. bought a new position in shares of East West Bancorp during the 4th quarter valued at $129,000. Field & Main Bank bought a new stake in East West Bancorp in the 4th quarter worth $146,000. Advisor Partners LLC bought a new stake in East West Bancorp in the 4th quarter worth $213,000. Finally, YHB Investment Advisors Inc. bought a new stake in East West Bancorp in the 4th quarter worth $217,000. 91.71% of the stock is currently owned by institutional investors.

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About East West Bancorp

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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