East West Bancorp (NASDAQ:EWBC) Price Target Raised to $136.00 at Truist Financial

East West Bancorp (NASDAQ:EWBC) had its price target raised by Truist Financial from $128.00 to $136.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 3.53% from the company’s current price.

EWBC has been the subject of several other research reports. Barclays raised their price target on shares of East West Bancorp from $142.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on East West Bancorp from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup upped their price target on East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. TD Cowen increased their price target on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, DA Davidson boosted their price objective on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $137.00.

East West Bancorp Stock Performance

Shares of East West Bancorp stock traded up $0.35 during trading hours on Friday, hitting $131.36. 172,875 shares of the company’s stock traded hands, compared to its average volume of 1,054,250. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.47 and a beta of 0.94. East West Bancorp has a 12-month low of $92.67 and a 12-month high of $136.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day simple moving average of $125.95 and a 200-day simple moving average of $118.19.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The company had revenue of $773.75 million for the quarter, compared to the consensus estimate of $767.80 million. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that East West Bancorp will post 10.57 EPS for the current fiscal year.

Insider Activity

In other East West Bancorp news, insider Irene H. Oh sold 11,211 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total value of $1,446,219.00. Following the sale, the insider directly owned 85,998 shares in the company, valued at $11,093,742. This represents a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the transaction, the insider directly owned 46,974 shares of the company’s stock, valued at approximately $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,311 shares of company stock valued at $6,784,711 over the last ninety days. 0.94% of the stock is owned by insiders.

Institutional Investors Weigh In On East West Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its position in East West Bancorp by 84,090.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock worth $596,967,000 after buying an additional 5,305,257 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in East West Bancorp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after acquiring an additional 106,998 shares during the last quarter. First Trust Advisors LP raised its stake in shares of East West Bancorp by 7.1% during the fourth quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock worth $519,329,000 after acquiring an additional 306,916 shares in the last quarter. Boston Partners raised its stake in shares of East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock worth $412,464,000 after acquiring an additional 633,649 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of East West Bancorp by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider’s stock worth $423,619,000 after acquiring an additional 318,303 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About East West Bancorp

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.