East West Bancorp (NASDAQ:EWBC) Price Target Raised to $110.00

East West Bancorp (NASDAQ:EWBC) had its price objective boosted by stock analysts at Barclays from $108.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 13.18% from the company’s current price.

EWBC has been the topic of a number of other reports. DA Davidson raised their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Truist Financial dropped their price target on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley raised their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Piper Sandler raised their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, StockNews.com lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $99.46.

East West Bancorp Stock Performance

EWBC opened at $97.19 on Wednesday. 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 company’s fifty day moving average price is $83.66 and its two-hundred day moving average price is $78.49. East West Bancorp has a 1-year low of $51.40 and a 1-year high of $98.95. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.08 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the prior year, the company posted $2.02 earnings per share. On average, analysts expect that East West Bancorp will post 8.2 EPS for the current fiscal year.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp 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 transaction, the director now owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in East West Bancorp during the first quarter valued at approximately $3,961,000. Manning & Napier Advisors LLC purchased a new position in East West Bancorp during the second quarter valued at approximately $3,832,000. Inspire Investing LLC lifted its position in East West Bancorp by 197.8% during the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 10,535 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in East West Bancorp during the first quarter valued at approximately $909,000. Finally, SG Americas Securities LLC bought a new stake in East West Bancorp during the second quarter valued at approximately $852,000. 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.