Barclays Trims East West Bancorp (NASDAQ:EWBC) Target Price to $105.00

East West Bancorp (NASDAQ:EWBC) had its target price cut by stock analysts at Barclays from $106.00 to $105.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 43.13% from the stock’s previous close.

EWBC has been the topic of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of East West Bancorp in a research note on Wednesday, April 24th. Citigroup raised their price target on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Compass Point raised their price target on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Truist Financial reduced their price target on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Stephens raised their price target on shares of East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

East West Bancorp Trading Up 2.4 %

Shares of EWBC traded up $1.71 during midday trading on Monday, hitting $73.36. The stock had a trading volume of 181,006 shares, compared to its average volume of 1,064,230. East West Bancorp has a 1 year low of $49.59 and a 1 year high of $79.54. The firm has a market cap of $10.21 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 3.62 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day moving average is $74.06 and its 200 day moving average is $73.40.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The business had revenue of $644.13 million for the quarter, compared to the consensus estimate of $636.77 million. During the same quarter in the prior year, the firm posted $2.32 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts forecast that East West Bancorp will post 8.03 EPS for the current fiscal year.

Insider Activity

In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the sale, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the sale, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the sale, the insider now owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted 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 worth $803,502,000 after purchasing an additional 215,281 shares in the last quarter. Capital International Investors boosted 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 worth $833,469,000 after purchasing an additional 159,963 shares in the last quarter. Capital Research Global Investors acquired a new stake in East West Bancorp in the 1st quarter worth approximately $338,142,000. Massachusetts Financial Services Co. MA boosted 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 worth $231,370,000 after purchasing an additional 751,944 shares in the last quarter. Finally, Boston Partners boosted 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 worth $195,279,000 after purchasing an additional 886,841 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Company Profile

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.