StockNews.com Lowers East West Bancorp (NASDAQ:EWBC) to Sell

StockNews.com cut shares of East West Bancorp (NASDAQ:EWBC) from a hold rating to a sell rating in a research report released on Monday morning.

Several other research analysts have also commented on EWBC. Morgan Stanley upped their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company increased their price target on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Barclays lifted their price objective on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Piper Sandler increased their target price on East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Truist Financial lowered their target price on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and an average target price of $97.08.

East West Bancorp Stock Up 5.8 %

Shares of NASDAQ:EWBC opened at $95.63 on Monday. The stock’s 50-day moving average is $83.31 and its 200 day moving average is $78.36. The company has a market cap of $13.31 billion, a PE ratio of 12.04, a P/E/G ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp has a 1 year low of $51.40 and a 1 year high of $98.95.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. During the same period in the previous year, the firm earned $2.02 earnings per share. Sell-side analysts anticipate that East West Bancorp will post 8.2 EPS for the current year.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the transaction, the executive vice president now directly owns 15,875 shares in the company, valued at $1,392,713.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Riverview Trust Co purchased a new position in East West Bancorp in the 1st quarter worth about $25,000. UMB Bank n.a. lifted its position in East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 283 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp during the 2nd quarter valued at $30,000. American Capital Advisory LLC bought a new position in East West Bancorp in the second quarter valued at about $31,000. Finally, Mather Group LLC. purchased a new stake in shares of East West Bancorp during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors 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.