East West Bancorp (NASDAQ:EWBC) PT Raised to $100.00

East West Bancorp (NASDAQ:EWBCGet Rating) had its price target lifted by investment analysts at Wells Fargo & Company from $95.00 to $100.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 25.41% from the stock’s current price.

Separately, StockNews.com started coverage on East West Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Buy” and an average price target of $95.00.

EWBC stock opened at $79.74 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.07. East West Bancorp has a 12 month low of $65.87 and a 12 month high of $93.51. The firm has a market cap of $11.34 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.10 and a beta of 1.59. The company’s 50-day moving average price is $80.96 and its two-hundred day moving average price is $81.92.

East West Bancorp (NASDAQ:EWBCGet Rating) last released its earnings results on Thursday, April 21st. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.14. The firm had revenue of $495.00 million for the quarter, compared to analysts’ expectations of $478.35 million. East West Bancorp had a return on equity of 15.62% and a net margin of 45.83%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities analysts predict that East West Bancorp will post 6.81 EPS for the current year.

In other news, Director Rudolph Estrada sold 1,111 shares of the stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $89.97, for a total transaction of $99,956.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Liu sold 1,600 shares of the business’s stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $91.51, for a total transaction of $146,416.00. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of East West Bancorp by 3.2% in the 4th quarter. BlackRock Inc. now owns 12,431,829 shares of the financial services provider’s stock valued at $978,135,000 after acquiring an additional 382,339 shares in the last quarter. Boston Partners increased its stake in East West Bancorp by 15.0% in the third quarter. Boston Partners now owns 4,919,427 shares of the financial services provider’s stock valued at $381,492,000 after purchasing an additional 641,131 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of East West Bancorp by 59.8% during the fourth quarter. Bank of America Corp DE now owns 2,909,602 shares of the financial services provider’s stock valued at $228,927,000 after purchasing an additional 1,088,300 shares during the period. Handelsbanken Fonder AB boosted its position in shares of East West Bancorp by 1.4% during the 4th quarter. Handelsbanken Fonder AB now owns 2,418,892 shares of the financial services provider’s stock worth $190,318,000 after purchasing an additional 32,500 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of East West Bancorp by 64.7% during the 3rd quarter. CI Investments Inc. now owns 2,190,657 shares of the financial services provider’s stock worth $169,864,000 after purchasing an additional 860,399 shares in the last quarter. 89.55% of the stock is currently owned by hedge funds and other institutional investors.

About East West Bancorp (Get Rating)

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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

Featured Articles

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.