East West Bancorp (EWBC) Set to Announce Earnings on Thursday

East West Bancorp (NASDAQ:EWBCGet Rating) is set to release its earnings data before the market opens on Thursday, January 26th. Analysts expect East West Bancorp to post earnings of $2.22 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

East West Bancorp Stock Down 2.0 %

NASDAQ EWBC traded down $1.40 on Tuesday, reaching $68.36. The stock had a trading volume of 943,264 shares, compared to its average volume of 817,314. The business has a 50 day moving average price of $66.83 and a 200 day moving average price of $69.63. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. East West Bancorp has a 1 year low of $61.65 and a 1 year high of $93.51. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.78 and a beta of 1.40.

Analysts Set New Price Targets

Several research firms recently weighed in on EWBC. Morgan Stanley began coverage on East West Bancorp in a research report on Monday, December 5th. They set an “equal weight” rating and a $84.00 price objective for the company. Piper Sandler upped their price target on East West Bancorp to $75.00 in a report on Friday, September 30th. StockNews.com initiated coverage on East West Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company cut their price target on East West Bancorp from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, East West Bancorp presently has an average rating of “Hold” and a consensus target price of $81.67.

Insider Transactions at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 5,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $72.43, for a total value of $362,150.00. Following the completion of the transaction, the insider now directly owns 52,435 shares of the company’s stock, valued at approximately $3,797,867.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds have recently modified their holdings of EWBC. Canada Pension Plan Investment Board raised its holdings in shares of East West Bancorp by 221.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,790 shares in the last quarter. Franklin Resources Inc. grew its position in East West Bancorp by 13.3% during the 2nd quarter. Franklin Resources Inc. now owns 3,298 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 388 shares during the last quarter. Captrust Financial Advisors grew its position in East West Bancorp by 6.2% during the 1st quarter. Captrust Financial Advisors now owns 2,776 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 162 shares during the last quarter. Virtu Financial LLC grew its position in East West Bancorp by 27.0% during the 1st quarter. Virtu Financial LLC now owns 3,599 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 766 shares during the last quarter. Finally, Golden State Equity Partners grew its position in East West Bancorp by 16.4% during the 1st quarter. Golden State Equity Partners now owns 3,883 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 548 shares during the last quarter. 88.68% of the stock is owned by institutional investors and hedge funds.

About East West Bancorp

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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 businesses and individuals. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

Further Reading

Earnings History for East West Bancorp (NASDAQ:EWBC)

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