BidaskClub cut shares of East West Bancorp (NASDAQ:EWBC) from a hold rating to a sell rating in a research report released on Wednesday.
EWBC has been the subject of a number of other research reports. UBS Group started coverage on shares of East West Bancorp in a report on Thursday, March 22nd. They set a buy rating and a $77.00 price objective for the company. ValuEngine downgraded East West Bancorp from a buy rating to a hold rating in a report on Wednesday, April 18th. DA Davidson decreased their target price on East West Bancorp from $75.00 to $74.00 and set a neutral rating for the company in a report on Tuesday, April 24th. Morgan Stanley boosted their price target on East West Bancorp from $70.00 to $72.00 and gave the stock an equal weight rating in a research report on Tuesday, April 24th. Finally, Deutsche Bank increased their price objective on East West Bancorp from $74.00 to $76.00 and gave the stock a hold rating in a research report on Friday, May 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $72.92.
NASDAQ:EWBC opened at $65.20 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $9.57 billion, a PE ratio of 18.84, a PEG ratio of 1.38 and a beta of 1.41. East West Bancorp has a 52 week low of $52.86 and a 52 week high of $73.98.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, April 19th. The financial services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.13. The firm had revenue of $401.14 million during the quarter, compared to the consensus estimate of $364.81 million. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. During the same quarter in the previous year, the company posted $0.88 earnings per share. equities research analysts forecast that East West Bancorp will post 4.55 earnings per share for the current year.
In related news, CEO Dominic Ng sold 5,770 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $69.61, for a total value of $401,649.70. Following the completion of the transaction, the chief executive officer now directly owns 409,142 shares of the company’s stock, valued at approximately $28,480,374.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $69.65, for a total value of $348,250.00. Following the completion of the transaction, the insider now directly owns 19,919 shares of the company’s stock, valued at $1,387,358.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,785 shares of company stock worth $10,222,156. Company insiders own 0.88% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EWBC. Delpha Capital Management LLC bought a new stake in East West Bancorp during the first quarter valued at about $222,000. Gideon Capital Advisors Inc. bought a new stake in shares of East West Bancorp during the first quarter valued at approximately $280,000. Susquehanna Fundamental Investments LLC bought a new position in East West Bancorp in the first quarter valued at approximately $331,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in East West Bancorp by 107.4% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Burney Co. bought a new position in East West Bancorp in the fourth quarter valued at approximately $344,000. 89.75% of the stock is currently owned by institutional investors.
East West Bancorp Company Profile
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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