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.
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.
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