East West Bancorp (NASDAQ:EWBC) Price Target Increased to $110.00 by Analysts at Barclays

East West Bancorp (NASDAQ:EWBC) had its target price increased by analysts at Barclays from $108.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 21.71% from the company’s previous close.

A number of other brokerages have also recently weighed in on EWBC. Wedbush lifted 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 note on Wednesday, July 24th. Stephens boosted their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. DA Davidson raised their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial cut their target price on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and an average target price of $92.92.

East West Bancorp Price Performance

NASDAQ EWBC opened at $90.38 on Wednesday. The company has a 50-day moving average price of $82.97 and a two-hundred day moving average price of $78.23. East West Bancorp has a 52 week low of $51.33 and a 52 week high of $93.30. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. 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 (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same period in the prior year, the company posted $2.02 EPS. Analysts forecast that East West Bancorp will post 8.2 EPS for the current year.

Insider Buying and Selling at East West Bancorp

In other news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now directly owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’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 sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

A number of large investors have recently made changes to their positions in EWBC. International Assets Investment Management LLC purchased a new position in East West Bancorp during the third quarter valued at approximately $3,142,000. Private Advisor Group LLC boosted its stake in shares of East West Bancorp by 11.3% during the 3rd quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider’s stock valued at $378,000 after buying an additional 462 shares during the period. RBA Wealth Management LLC boosted its stake in shares of East West Bancorp by 0.7% during the 3rd quarter. RBA Wealth Management LLC now owns 56,310 shares of the financial services provider’s stock valued at $4,659,000 after buying an additional 397 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of East West Bancorp by 3.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 121,160 shares of the financial services provider’s stock valued at $10,025,000 after acquiring an additional 3,488 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in shares of East West Bancorp by 4.3% in the third quarter. Whittier Trust Co. now owns 250,142 shares of the financial services provider’s stock worth $20,697,000 after acquiring an additional 10,263 shares during the last quarter. 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.