East West Bancorp (NASDAQ:EWBC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

East West Bancorp (NASDAQ:EWBC) had its price target upped by stock analysts at Morgan Stanley from $126.00 to $141.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 27.60% from the company’s previous close.

Several other analysts have also commented on EWBC. Truist Financial set a $121.00 price objective on shares of East West Bancorp in a report on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of East West Bancorp in a research report on Monday, December 29th. UBS Group set a $125.00 price target on East West Bancorp in a research report on Wednesday, February 4th. Barclays upped their price target on East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on East West Bancorp in a research report on Tuesday, December 16th. They set a “buy” rating and a $133.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.21.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $110.50 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $115.91 and its 200 day simple moving average is $109.34. The stock has a market cap of $15.21 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. East West Bancorp has a twelve month low of $68.27 and a twelve month high of $123.82.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.48 by $0.04. The firm had revenue of $753.79 million during the quarter, compared to analysts’ expectations of $745.04 million. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. During the same period last year, the company posted $2.10 EPS. As a group, research analysts predict that East West Bancorp will post 8.85 EPS for the current year.

Insider Transactions at East West Bancorp

In related news, COO Parker Shi sold 8,844 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $115.03, for a total value of $1,017,325.32. Following the transaction, the chief operating officer owned 14,950 shares in the company, valued at $1,719,698.50. The trade was a 37.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Molly Campbell sold 1,800 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $122.81, for a total transaction of $221,058.00. Following the sale, the director directly owned 5,756 shares in the company, valued at $706,894.36. This trade represents a 23.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 119,065 shares of company stock worth $13,857,314 over the last quarter. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Foster Dykema Cabot & Partners LLC purchased a new position in shares of East West Bancorp during the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp in the 4th quarter worth approximately $31,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the 3rd quarter worth approximately $31,000. Grove Bank & Trust raised its stake in East West Bancorp by 82.6% during the 3rd quarter. Grove Bank & Trust now owns 336 shares of the financial services provider’s stock valued at $36,000 after buying an additional 152 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of East West Bancorp by 179.9% during the 2nd quarter. Assetmark Inc. now owns 375 shares of the financial services provider’s stock valued at $38,000 after buying an additional 241 shares during the period. Institutional investors own 89.53% of the company’s stock.

About East West Bancorp

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.