East West Bancorp (NASDAQ:EWBC) PT Raised to $95.00 at Piper Sandler

East West Bancorp (NASDAQ:EWBC) had its target price upped by equities researchers at Piper Sandler from $87.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential downside of 2.25% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. Wedbush lifted their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial lifted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Stock Up 1.6 %

Shares of NASDAQ EWBC opened at $97.19 on Wednesday. The firm’s 50-day moving average price is $83.66 and its 200-day moving average price is $78.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.08 and a beta of 1.29. East West Bancorp has a 12-month low of $51.40 and a 12-month high of $98.95.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same period in the prior year, the firm earned $2.02 EPS. On average, equities research analysts anticipate that East West Bancorp will post 8.2 EPS for the current fiscal year.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares of the company’s stock, valued at $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares in the company, valued at $1,486,343.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares in the company, valued at $1,382,509.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new stake in East West Bancorp during the first quarter worth about $338,142,000. Jupiter Asset Management Ltd. acquired a new position in East West Bancorp in the second quarter valued at approximately $59,460,000. Lord Abbett & CO. LLC raised its holdings in East West Bancorp by 112.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after purchasing an additional 762,958 shares during the period. Jennison Associates LLC raised its holdings in East West Bancorp by 82.2% in the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock worth $133,502,000 after purchasing an additional 761,347 shares during the period. Finally, Millennium Management LLC raised its holdings in East West Bancorp by 152.1% in the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after purchasing an additional 225,799 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.