East West Bancorp (NASDAQ:EWBC) PT Raised to $97.00

East West Bancorp (NASDAQ:EWBC) had its price objective upped by investment analysts at Wells Fargo & Company from $95.00 to $97.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 20.33% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Wedbush upped their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial dropped their price target on East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Morgan Stanley boosted their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday. Stephens increased their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.87.

East West Bancorp Trading Up 0.7 %

EWBC opened at $80.61 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp has a one year low of $49.59 and a one year high of $89.75. The company has a market cap of $11.22 billion, a P/E ratio of 10.08, a PEG ratio of 2.80 and a beta of 1.29. The business’s 50-day simple moving average is $81.44 and its 200-day simple moving average is $77.14.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts expect that East West Bancorp will post 8.17 EPS for the current fiscal year.

Insider Activity

In related news, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the sale, the executive vice president now directly owns 15,875 shares in the company, valued at approximately $1,392,713.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the transaction, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock worth $1,108,160 over the last 90 days. 1.04% of the stock is currently owned by corporate insiders.

Institutional Trading of East West Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWBC. Capital Research Global Investors purchased a new position in shares of East West Bancorp during the 1st quarter worth $338,142,000. Jupiter Asset Management Ltd. purchased a new position in East West Bancorp during the second quarter worth about $59,460,000. Lord Abbett & CO. LLC lifted its position in East West Bancorp by 112.5% during the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after buying an additional 762,958 shares during the period. Jennison Associates LLC boosted its stake in East West Bancorp by 82.2% in the 1st quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock worth $133,502,000 after buying an additional 761,347 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new stake in East West Bancorp in the 1st quarter valued at about $39,347,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About East West Bancorp

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.