Stephens Raises East West Bancorp (NASDAQ:EWBC) Price Target to $104.00

East West Bancorp (NASDAQ:EWBC) had its target price boosted by investment analysts at Stephens from $91.00 to $104.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 8.75% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Barclays lifted their target price on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler boosted their price objective on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. DA Davidson boosted their price objective on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wedbush upped their target price on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and an average price target of $97.77.

East West Bancorp Stock Up 5.8 %

Shares of EWBC opened at $95.63 on Thursday. The company has a market cap of $13.31 billion, a PE ratio of 12.04, a P/E/G ratio of 2.08 and a beta of 1.29. The business has a fifty day moving average of $83.31 and a 200 day moving average of $78.36. East West Bancorp has a 52-week low of $51.40 and a 52-week high of $98.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same period last year, the company earned $2.02 earnings per share. On average, sell-side analysts expect that East West Bancorp will post 8.2 EPS for the current year.

Insider Buying and Selling at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,621,111.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the firm’s 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 completion of the transaction, the director now owns 16,557 shares in the company, 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. Insiders have sold a total of 13,346 shares of company stock worth $1,108,160 over the last three months. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

Hedge funds have recently made changes to their positions in the business. Capital Research Global Investors bought a new position in shares of East West Bancorp during the first quarter worth approximately $338,142,000. Dimensional Fund Advisors LP increased its stake in shares of East West Bancorp by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider’s stock valued at $133,480,000 after purchasing an additional 118,658 shares during the last quarter. Jennison Associates LLC increased its stake in shares of 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 valued at $133,502,000 after purchasing an additional 761,347 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of East West Bancorp by 112.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock valued at $114,013,000 after acquiring an additional 762,958 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at $59,460,000. 89.53% of the stock is owned by institutional investors and hedge funds.

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.