Keefe, Bruyette & Woods Raises East West Bancorp (NASDAQ:EWBC) Price Target to $85.00

East West Bancorp (NASDAQ:EWBC) had its target price upped by analysts at Keefe, Bruyette & Woods from $82.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 11.31% from the stock’s previous close.

Several other research firms have also issued reports on EWBC. Piper Sandler lifted their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Truist Financial raised their price objective on East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Morgan Stanley upped their target price on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Financial Group raised 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. Finally, Citigroup boosted their price target on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

East West Bancorp Price Performance

EWBC opened at $76.36 on Wednesday. The firm has a market capitalization of $10.62 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day moving average is $74.76 and its two-hundred day moving average is $68.40. East West Bancorp has a 1 year low of $41.12 and a 1 year high of $79.54.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The business had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $2.32 EPS. Research analysts anticipate that East West Bancorp will post 7.87 earnings per share for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the completion of the transaction, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp 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 transaction, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EWBC. Riverview Trust Co acquired a new stake in East West Bancorp during the 1st quarter worth $25,000. First Horizon Advisors Inc. boosted its position in East West Bancorp by 65.1% during the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 211 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in East West Bancorp during the fourth quarter worth about $29,000. Rise Advisors LLC purchased a new stake in East West Bancorp during the 1st quarter valued at about $30,000. Finally, Mather Group LLC. acquired a new stake in East West Bancorp in the 1st quarter valued at about $35,000. 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.