East West Bancorp (NASDAQ:EWBC) Price Target Increased to $107.00 by Analysts at DA Davidson

by · The Markets Daily

East West Bancorp (NASDAQ:EWBC – Free Report) had its price target hoisted by DA Davidson from $100.00 to $107.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup raised their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens raised their price target on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price target on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Piper Sandler raised their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.08.

View Our Latest Stock Analysis on EWBC

East West Bancorp Stock Up 5.8 %

EWBC opened at $95.63 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $13.31 billion, a P/E ratio of 12.04, a PEG ratio of 2.08 and a beta of 1.29. East West Bancorp has a 52 week low of $51.40 and a 52 week high of $98.95. The business’s fifty day simple moving average is $83.31 and its 200 day simple moving average is $78.36.

East West Bancorp (NASDAQ:EWBC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same quarter last year, the company earned $2.02 earnings per share. As a group, equities research analysts anticipate that East West Bancorp will post 8.2 EPS for the current fiscal year.

Insider Activity at East West Bancorp

In related news, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at $1,392,713.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds have recently bought and sold shares of EWBC. Riverview Trust Co acquired a new stake in East West Bancorp during the 1st quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in East West Bancorp during the 2nd quarter valued at approximately $30,000. UMB Bank n.a. grew its stake in East West Bancorp by 362.8% during the 3rd 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 in the last quarter. American Capital Advisory LLC acquired a new position in shares of East West Bancorp in the 2nd quarter worth approximately $31,000. Finally, Signaturefd LLC grew its position in shares of East West Bancorp by 490.1% in the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 446 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Company Profile

(Get Free Report)

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.

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