East West Bancorp, Inc. (NASDAQ:EWBC) Receives Consensus Rating of “Moderate Buy” from Analysts

East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $138.3077.

Several research firms have weighed in on EWBC. UBS Group raised their target price on shares of East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Cantor Fitzgerald upped their price target on shares of East West Bancorp from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley increased their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. TD Cowen raised their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, DA Davidson lifted their price objective on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd.

View Our Latest Report on East West Bancorp

East West Bancorp Stock Down 0.4%

East West Bancorp stock opened at $133.40 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. East West Bancorp has a fifty-two week low of $92.67 and a fifty-two week high of $136.24. The stock’s fifty day moving average is $127.49 and its two-hundred day moving average is $119.21.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.02. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The business had revenue of $791.14 million during the quarter, compared to the consensus estimate of $784.47 million. During the same quarter in the previous year, the company posted $2.24 EPS. Analysts predict that East West Bancorp will post 10.56 EPS for the current fiscal year.

Key East West Bancorp News

Here are the key news stories impacting East West Bancorp this week:

Insider Buying and Selling

In other news, Director Archana Deskus sold 1,800 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total value of $225,990.00. Following the completion of the transaction, the director directly owned 13,231 shares of the company’s stock, valued at $1,661,152.05. The trade was a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the sale, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,311 shares of company stock worth $6,784,711 in the last 90 days. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of East West Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of East West Bancorp by 66.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 321 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of East West Bancorp in the second quarter valued at approximately $274,000. Baird Financial Group Inc. acquired a new position in shares of East West Bancorp in the second quarter valued at approximately $290,000. Marshall Wace LLP lifted its stake in shares of East West Bancorp by 34.3% during the second quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock valued at $325,000 after buying an additional 823 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of East West Bancorp by 118.7% during the second quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider’s stock valued at $3,568,000 after buying an additional 19,178 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Company Profile

(Get Free Report)

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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