East West Bancorp (NASDAQ:EWBC) Price Target Raised to $109.00 at Citigroup

East West Bancorp (NASDAQ:EWBC) had its price objective boosted by Citigroup from $103.00 to $109.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on EWBC. Jefferies Financial Group lowered their target price on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Barclays boosted their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Piper Sandler boosted their target price on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Truist Financial lowered their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and an average price target of $97.08.

East West Bancorp Trading Up 5.8 %

EWBC stock opened at $95.63 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a twelve month low of $51.40 and a twelve month high of $98.95. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The firm’s fifty day simple moving average is $83.31 and its two-hundred day simple moving average is $78.36.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the previous year, the business posted $2.02 earnings per share. As a group, analysts anticipate that East West Bancorp will post 8.2 earnings per share for the current year.

Insiders Place Their Bets

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new position in shares of East West Bancorp during the first quarter valued at about $25,000. UMB Bank n.a. increased its holdings in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 283 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp during the second quarter valued at about $30,000. American Capital Advisory LLC acquired a new position in shares of East West Bancorp during the second quarter valued at about $31,000. Finally, Tobam increased its holdings in shares of East West Bancorp by 131.7% during the third quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 274 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Company Profile

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 in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.