East West Bancorp (NASDAQ:EWBC) Lowered to Sell at StockNews.com

East West Bancorp (NASDAQ:EWBCGet Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other research analysts also recently issued reports about the company. Wedbush lifted their price target on East West Bancorp from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Truist Financial decreased their price target on East West Bancorp from $64.00 to $62.00 in a research note on Thursday, June 29th. Morgan Stanley reissued an “equal weight” rating and issued a $56.00 price objective on shares of East West Bancorp in a research note on Monday, July 24th. Finally, 92 Resources reissued a “maintains” rating on shares of East West Bancorp in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.86.

Check Out Our Latest Report on EWBC

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $54.86 on Monday. The stock has a market capitalization of $7.76 billion, a P/E ratio of 6.15, a P/E/G ratio of 0.64 and a beta of 1.45. The business has a 50-day moving average of $57.07 and a two-hundred day moving average of $54.65. East West Bancorp has a fifty-two week low of $33.86 and a fifty-two week high of $80.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its earnings results on Thursday, July 20th. The financial services provider reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. East West Bancorp had a return on equity of 20.86% and a net margin of 37.14%. The firm had revenue of $645.00 million during the quarter, compared to analyst estimates of $660.49 million. During the same period in the previous year, the company earned $1.81 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts predict that East West Bancorp will post 8.4 EPS for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In related news, Director Rudolph Estrada sold 2,411 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $55.96, for a total transaction of $134,919.56. Following the completion of the sale, the director now directly owns 18,548 shares of the company’s stock, valued at approximately $1,037,946.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in East West Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock valued at $1,090,792,000 after buying an additional 86,848 shares during the last quarter. BlackRock Inc. grew its position in East West Bancorp by 1.0% in the first quarter. BlackRock Inc. now owns 13,149,984 shares of the financial services provider’s stock valued at $729,824,000 after purchasing an additional 128,474 shares in the last quarter. FMR LLC increased its stake in East West Bancorp by 28.0% in the 1st quarter. FMR LLC now owns 7,243,222 shares of the financial services provider’s stock valued at $401,999,000 after buying an additional 1,584,558 shares during the last quarter. State Street Corp lifted its position in East West Bancorp by 15.0% during the 1st quarter. State Street Corp now owns 5,793,739 shares of the financial services provider’s stock worth $321,553,000 after buying an additional 756,930 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of East West Bancorp by 28.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,997,099 shares of the financial services provider’s stock worth $197,509,000 after buying an additional 667,316 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.

East West Bancorp Company Profile

(Get Free Report)

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

See Also

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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