Zacks Investment Research Downgrades East West Bancorp (EWBC) to Hold

East West Bancorp (NASDAQ:EWBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

A number of other brokerages have also recently issued reports on EWBC. Piper Jaffray Companies set a $74.00 price objective on shares of East West Bancorp and gave the company a “buy” rating in a report on Saturday, October 21st. ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Barclays boosted their price objective on shares of East West Bancorp from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday. Morgan Stanley boosted their price objective on shares of East West Bancorp from $61.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Finally, SunTrust Banks restated a “buy” rating and set a $65.00 price objective on shares of East West Bancorp in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. East West Bancorp has a consensus rating of “Hold” and an average price target of $66.27.

Shares of East West Bancorp (EWBC) opened at $62.50 on Thursday. East West Bancorp has a 1 year low of $48.07 and a 1 year high of $63.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $9,030.00, a P/E ratio of 17.12, a PEG ratio of 1.51 and a beta of 1.46.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $348.97 million during the quarter, compared to analysts’ expectations of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. East West Bancorp’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. research analysts expect that East West Bancorp will post 3.49 earnings per share 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 shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the completion of the transaction, the director now owns 23,599 shares in the company, valued at $1,370,393.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the transaction, the insider now owns 18,015 shares of the company’s stock, valued at approximately $1,103,598.90. The disclosure for this sale can be found here. Insiders sold 17,200 shares of company stock valued at $1,044,054 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in EWBC. BlackRock Inc. boosted its holdings in shares of East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock valued at $780,841,000 after buying an additional 1,373,528 shares during the period. State Street Corp boosted its holdings in shares of East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after buying an additional 1,004,860 shares during the period. Vanguard Group Inc. boosted its holdings in shares of East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after buying an additional 893,764 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of East West Bancorp by 66.8% in the third quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock valued at $58,784,000 after buying an additional 393,861 shares during the period. Finally, Hahn Capital Management LLC bought a new stake in shares of East West Bancorp in the second quarter worth $21,380,000. Institutional investors own 91.37% 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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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