East West Bancorp (NASDAQ:EWBC) Price Target Raised to $110.00

East West Bancorp (NASDAQ:EWBC) had its price objective lifted by equities researchers at Barclays from $108.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 21.71% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Stephens boosted their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their target price on 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. Piper Sandler raised their target price on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. Finally, DA Davidson raised their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.92.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $90.38 on Wednesday. The business’s 50-day simple moving average is $82.97 and its 200-day simple moving average is $78.23. East West Bancorp has a 52 week low of $51.33 and a 52 week high of $93.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 2.08 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same quarter last year, the company posted $2.02 earnings per share. As a group, equities research analysts expect that East West Bancorp will post 8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rudolph Estrada sold 1,896 shares of the 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 owns 18,470 shares of the company’s stock, valued at $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares of the company’s stock, valued at $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,346 shares of company stock worth $1,108,160. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in shares of East West Bancorp by 2.8% in the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 128 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 133 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in East West Bancorp by 4.4% in the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of East West Bancorp by 3.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 160 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of East West Bancorp by 5.5% in the third quarter. First Citizens Bank & Trust Co. now owns 3,178 shares of the financial services provider’s stock valued at $263,000 after buying an additional 165 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.