East West Bancorp (NASDAQ:EWBC) PT Raised to $86.00 at Stephens

East West Bancorp (NASDAQ:EWBC) had its price target hoisted by investment analysts at Stephens from $85.00 to $86.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 12.62% from the company’s current price.

A number of other equities analysts also recently issued reports on EWBC. Truist Financial increased their target price on East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Jefferies Financial Group upped their price target on East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays assumed coverage on East West Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target on the stock. Citigroup upped their price target on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Compass Point increased their target price on East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and an average price target of $84.08.

East West Bancorp Stock Down 1.1 %

EWBC opened at $76.36 on Wednesday. The business has a 50 day moving average price of $74.76 and a two-hundred day moving average price of $68.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market cap of $10.62 billion, a PE ratio of 9.62, a P/E/G ratio of 0.96 and a beta of 1.39. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.00 by $0.08. The firm had revenue of $644.13 million during the quarter, compared to the consensus estimate of $636.77 million. East West Bancorp had a return on equity of 17.66% and a net margin of 26.78%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.32 EPS. As a group, research analysts anticipate that East West Bancorp will post 7.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds have recently bought and sold shares of EWBC. Allspring Global Investments Holdings LLC boosted its stake in East West Bancorp by 40,757.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock valued at $7,437,000 after acquiring an additional 103,117 shares during the period. Federated Hermes Inc. boosted its stake in East West Bancorp by 5.0% in the third quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock valued at $1,669,000 after acquiring an additional 1,501 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in East West Bancorp by 92.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 48,562 shares of the financial services provider’s stock valued at $2,560,000 after acquiring an additional 23,361 shares during the period. Vanguard Group Inc. boosted its stake in East West Bancorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after acquiring an additional 215,281 shares during the period. Finally, Trillium Asset Management LLC boosted its stake in East West Bancorp by 12.2% in the third quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider’s stock valued at $14,715,000 after acquiring an additional 30,466 shares during the period. 89.53% of the stock is currently 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.