East West Bancorp (NASDAQ:EWBC) Price Target Increased to $97.00 by Analysts at Wells Fargo & Company

East West Bancorp (NASDAQ:EWBC) had its price target boosted by research analysts at Wells Fargo & Company from $95.00 to $97.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 20.33% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial decreased their price objective on shares of 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. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Wedbush upped their target price on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their target price on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday. Finally, DA Davidson upped their price target on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.87.

East West Bancorp Trading Up 0.7 %

Shares of EWBC opened at $80.61 on Tuesday. East West Bancorp has a twelve month low of $49.59 and a twelve month high of $89.75. The firm has a market capitalization of $11.22 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 2.80 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. The stock’s fifty day simple moving average is $81.44 and its 200 day simple moving average is $77.14.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.10. The business had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, equities research analysts forecast that East West Bancorp will post 8.17 earnings per share for the current year.

Insider Activity at East West Bancorp

In related news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the transaction, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. 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 over the last three months. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its stake in East West Bancorp by 2.8% in the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after buying an additional 128 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 133 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in East West Bancorp by 3.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 160 shares during the period. OLD National Bancorp IN boosted its stake in East West Bancorp by 6.4% during the 2nd quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 175 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in East West Bancorp by 2.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

About East West Bancorp

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.