East West Bancorp, Inc. (EWBC) Given Consensus Recommendation of “Hold” by Brokerages

East West Bancorp, Inc. (NASDAQ:EWBC) has been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $67.25.

Several analysts have issued reports on EWBC shares. BMO Capital Markets upped their price target on shares of East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, January 8th. Raymond James Financial raised shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $65.00 price target on shares of East West Bancorp in a research report on Thursday, October 12th.

In related news, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the transaction, the insider now directly owns 18,015 shares of the company’s stock, valued at $1,103,598.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the transaction, the director now directly owns 23,599 shares in the company, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders sold 17,200 shares of company stock worth $1,044,054 over the last three months. Insiders own 0.88% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in EWBC. BlackRock Inc. increased its position in East West Bancorp by 11.5% during the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares during the period. State Street Corp increased its position in East West Bancorp by 16.5% during the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after acquiring an additional 1,004,860 shares during the period. Vanguard Group Inc. increased its position in East West Bancorp by 7.5% during the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares during the period. Janus Henderson Group PLC increased its position in East West Bancorp by 66.8% during the third quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock worth $58,784,000 after acquiring an additional 393,861 shares during the period. Finally, Hahn Capital Management LLC bought a new position in East West Bancorp during the second quarter worth about $21,380,000. 91.38% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp (EWBC) traded up $0.18 during midday trading on Monday, reaching $67.32. 1,114,100 shares of the company’s stock traded hands, compared to its average volume of 968,778. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. East West Bancorp has a 1 year low of $48.07 and a 1 year high of $67.61. The company has a market capitalization of $9,730.00, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.51 and a beta of 1.46.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same period in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. sell-side analysts expect that East West Bancorp will post 3.5 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was first reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this news story on another site, it was copied illegally and reposted in violation of US and international trademark and copyright law. The correct version of this news story can be viewed at https://transcriptdaily.com/2018/01/16/east-west-bancorp-inc-ewbc-given-consensus-recommendation-of-hold-by-brokerages.html.

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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply