East West Bancorp (NASDAQ:EWBC) Price Target Raised to $108.00

East West Bancorp (NASDAQ:EWBC) had its price objective raised by stock analysts at Barclays from $105.00 to $108.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 32.45% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Truist Financial cut their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Wedbush boosted their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of East West Bancorp from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley increased their price objective on East West Bancorp from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $89.53.

East West Bancorp Trading Up 0.4 %

Shares of EWBC traded up $0.33 during mid-day trading on Friday, reaching $81.54. The company’s stock had a trading volume of 118,515 shares, compared to its average volume of 936,917. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 52 week low of $49.59 and a 52 week high of $89.75. The company’s fifty day moving average price is $81.44 and its two-hundred day moving average price is $76.98. The stock has a market cap of $11.35 billion, a PE ratio of 10.23, a P/E/G ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. The business had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. On average, analysts predict that East West Bancorp will post 8.17 earnings per share for the current fiscal year.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the sale, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Gary Teo sold 3,450 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the sale, the executive vice president now owns 15,875 shares in the company, valued at $1,392,713.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock valued at $1,108,160 in the last 90 days. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Several large investors have recently bought and sold shares of EWBC. Capital Research Global Investors purchased a new position in shares of East West Bancorp in the 1st quarter worth $338,142,000. Jupiter Asset Management Ltd. purchased a new stake in shares of East West Bancorp during the 2nd quarter valued at about $59,460,000. Lord Abbett & CO. LLC lifted its stake in shares of East West Bancorp by 112.5% in the 1st 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 grew its position in East West Bancorp by 82.2% during the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after buying an additional 761,347 shares during the period. Finally, Miller Howard Investments Inc. NY purchased a new stake in East West Bancorp during the first quarter valued at approximately $39,347,000. 89.53% of the stock is currently owned by institutional investors.

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.