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

East West Bancorp (NASDAQ:EWBC – Get 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.