East West Bancorp (NASDAQ:EWBC) Price Target Raised to $109.00 at Citigroup

East West Bancorp (NASDAQ:EWBC) had its price objective increased by equities research analysts at Citigroup from $103.00 to $109.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target indicates a potential upside of 20.60% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. DA Davidson upped their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays upped their price objective on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial lowered 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 report on Friday, September 20th. Finally, Wedbush boosted their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.15.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $90.38 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 company has a market capitalization of $12.58 billion, a P/E ratio of 11.38, a P/E/G ratio of 2.08 and a beta of 1.29. East West Bancorp has a 12-month low of $51.40 and a 12-month high of $93.30. The firm has a 50-day moving average price of $82.97 and a two-hundred day moving average price of $78.23.

East West Bancorp (NASDAQ:EWBC) last issued 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. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. During the same period in the previous year, the company earned $2.02 EPS. Analysts anticipate that East West Bancorp will post 8.2 earnings per share for the current year.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the company’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 transaction, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Lisa L. Kim sold 6,000 shares of the 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 owns 18,891 shares in the company, valued at $1,486,343.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rudolph Estrada sold 1,896 shares of the 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 completion of the transaction, the director now owns 18,470 shares in the company, valued at $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 valued at $1,108,160. 1.04% of the stock is owned by insiders.

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWBC. Riverview Trust Co purchased a new stake in East West Bancorp during the 1st quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of East West Bancorp in the second quarter valued at $30,000. UMB Bank n.a. grew its holdings in shares of East West Bancorp by 362.8% in the third 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 purchased a new position in shares of East West Bancorp in the second quarter valued at $31,000. Finally, Signaturefd LLC grew its holdings in shares of East West Bancorp by 490.1% in the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 446 shares in the last quarter. Institutional investors 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.