East West Bancorp (NASDAQ:EWBC) Stock Rating Reaffirmed by Wedbush

East West Bancorp (NASDAQ:EWBC)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $90.00 price target on the financial services provider’s stock. Wedbush’s price target suggests a potential upside of 17.86% from the stock’s current price. Wedbush also issued estimates for East West Bancorp’s Q2 2024 earnings at $1.96 EPS, Q3 2024 earnings at $2.02 EPS, FY2024 earnings at $8.05 EPS, Q2 2025 earnings at $2.05 EPS, Q3 2025 earnings at $2.17 EPS and FY2025 earnings at $8.40 EPS.

A number of other research analysts have also issued reports on the stock. Morgan Stanley boosted their target price on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Piper Sandler upped their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Barclays started coverage on shares of East West Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target for the company. Jefferies Financial Group upped their price target on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Truist Financial upped their price target on shares of East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.08.

East West Bancorp Trading Down 1.1 %

East West Bancorp stock opened at $76.36 on Wednesday. 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 firm has a 50-day moving average price of $74.76 and a two-hundred day moving average price of $68.40. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 9.62, a PEG 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 earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $644.13 million during the quarter, compared to analyst estimates of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. East West Bancorp’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.32 EPS. Sell-side analysts expect that East West Bancorp will post 7.87 earnings per share for the current year.

Insider Activity at East West Bancorp

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

Institutional Investors Weigh In On East West Bancorp

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in East West Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after buying an additional 215,281 shares during the period. Capital International Investors increased its stake in East West Bancorp by 1.4% in the 4th quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock valued at $833,469,000 after buying an additional 159,963 shares during the period. FMR LLC increased its stake in East West Bancorp by 3.8% in the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock valued at $443,635,000 after buying an additional 306,473 shares during the period. Massachusetts Financial Services Co. MA increased its stake in East West Bancorp by 30.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after buying an additional 751,944 shares during the period. Finally, Boston Partners increased its stake in East West Bancorp by 48.5% in the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after buying an additional 886,841 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.