East West Bancorp (NASDAQ:EWBC) Stock Price Target Cut by Cantor Fitzgerald

East West Bancorp (NASDAQ:EWBC) had its target price lowered by stock analysts at Cantor Fitzgerald from $152.00 to $146.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 16.75% from the company’s current price.

EWBC has been the topic of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of East West Bancorp in a report on Tuesday, October 6th. TD Cowen raised their price objective on shares of East West Bancorp from $148.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Morgan Stanley raised their price objective on shares of East West Bancorp from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. Barclays lifted their price objective on shares of East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Truist Financial cut their target price on shares of East West Bancorp from $137.00 to $131.00 and set a “hold” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.62.

East West Bancorp Price Performance

NASDAQ EWBC opened at $125.05 on Wednesday. The stock’s 50-day moving average price is $128.92 and its two-hundred day moving average price is $125.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The company has a market cap of $17.13 billion, a PE ratio of 12.14, a PEG ratio of 1.37 and a beta of 0.98. East West Bancorp has a 1 year low of $92.67 and a 1 year high of $137.47.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The company had revenue of $789.98 million during the quarter, compared to analyst estimates of $784.47 million. During the same period in the prior year, the firm earned $2.24 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts predict that East West Bancorp will post 10.64 EPS for the current year.

Insider Activity

In related news, Director Jack Liu sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total transaction of $135,020.00. Following the completion of the sale, the director directly owned 13,709 shares in the company, valued at approximately $1,850,989.18. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the transaction, the insider directly owned 36,974 shares in the company, valued at $4,894,248.38. The trade was a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,810 shares of company stock worth $1,564,344 in the last 90 days. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Solstein Capital LLC bought a new position in shares of East West Bancorp during the 2nd quarter valued at $27,000. Ancora Advisors LLC acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at $27,000. Fiduciary Financial Advisors bought a new stake in East West Bancorp in the second quarter worth $35,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the second quarter worth $37,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in East West Bancorp during the second quarter worth $37,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc is the parent company of East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the bank serves consumers, businesses, institutions and nonprofit organizations through a range of banking and financial services.

East West Bank offers deposit accounts, commercial and residential real estate lending, commercial and industrial loans, trade finance, treasury management, wealth management and other personal and business banking products.