Stephens Raises East West Bancorp (NASDAQ:EWBC) Price Target to $135.00

East West Bancorp (NASDAQ:EWBCGet Free Report) had its target price upped by analysts at Stephens from $129.00 to $135.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 3.58% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. TD Cowen upped their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Morgan Stanley lifted their price objective on East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Piper Sandler increased their target price on East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of East West Bancorp in a research report on Friday, July 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of East West Bancorp in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.08.

Check Out Our Latest Analysis on East West Bancorp

East West Bancorp Trading Down 2.3%

Shares of EWBC stock opened at $130.34 on Wednesday. East West Bancorp has a fifty-two week low of $92.67 and a fifty-two week high of $136.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $127.49 and a 200-day simple moving average of $119.21. The stock has a market cap of $17.86 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.54 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBCGet Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.02. The business had revenue of $791.14 million for the quarter, compared to the consensus estimate of $784.47 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.During the same period in the prior year, the business earned $2.24 earnings per share. On average, analysts forecast that East West Bancorp will post 10.56 earnings per share for the current fiscal year.

Insider Activity at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’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 sale, the insider directly owned 46,974 shares of the company’s stock, valued at $5,801,289. The trade was a 17.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Archana Deskus sold 1,800 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total value of $225,990.00. Following the sale, the director owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,311 shares of company stock worth $6,784,711 in the last 90 days. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in shares of East West Bancorp by 66.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 321 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $274,000. Baird Financial Group Inc. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $290,000. Marshall Wace LLP increased its position in East West Bancorp by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 823 shares in the last quarter. Finally, Cerity Partners LLC increased its position in East West Bancorp by 118.7% during the 2nd quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider’s stock worth $3,568,000 after purchasing an additional 19,178 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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About East West Bancorp

(Get Free Report)

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.

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