DA Davidson Issues Pessimistic Forecast for East West Bancorp (NASDAQ:EWBC) Stock Price

East West Bancorp (NASDAQ:EWBC) had its price target lowered by stock analysts at DA Davidson from $120.00 to $118.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective indicates a potential upside of 14.64% from the stock’s previous close.

A number of other brokerages have also commented on EWBC. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler lifted their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush increased their price objective on shares of East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Compass Point increased their price target on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.23.

East West Bancorp Stock Down 0.6 %

Shares of EWBC opened at $102.93 on Friday. The business’s fifty day moving average price is $101.30 and its two-hundred day moving average price is $91.18. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.85 and a beta of 1.30. East West Bancorp has a 52 week low of $67.27 and a 52 week high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92.

Insider Buying and Selling

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the sale, the director now directly owns 17,750 shares in the company, valued at $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the sale, the insider now directly owns 117,193 shares in the company, valued at approximately $11,543,510.50. This represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in East West Bancorp in the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of East West Bancorp in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its stake in shares of East West Bancorp by 362.8% in 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 during the period. Tobam lifted its holdings in shares of East West Bancorp by 131.7% in the third quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of East West Bancorp during the third quarter worth about $79,000. 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.