East West Bancorp Coverage Initiated by Analysts at Merrill Lynch (EWBC)
Investment analysts at Merrill Lynch started coverage on shares of East West Bancorp (NASDAQ:EWBC) in a note issued to investors on Wednesday, Analyst Ratings Network reports. The firm set a “neutral” rating on the stock.
East West Bancorp (NASDAQ:EWBC) traded down 0.28% during mid-day trading on Wednesday, hitting $32.18. The stock had a trading volume of 1,575,670 shares. East West Bancorp has a 1-year low of $19.68 and a 1-year high of $33.01. The stock’s 50-day moving average is $30.63 and its 200-day moving average is $27.9. The company has a market cap of $4.406 billion and a P/E ratio of 16.16.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.02. During the same quarter last year, the company posted $0.47 earnings per share. On average, analysts predict that East West Bancorp will post $2.10 earnings per share for the current fiscal year.
A number of other firms have also recently commented on EWBC. Analysts at Bank of America Corp. initiated coverage on shares of East West Bancorp in a research note to investors on Wednesday. They set a “neutral” rating and a $34.00 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of East West Bancorp from $34.00 to $36.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of East West Bancorp from $32.00 to $34.00 in a research note to investors on Sunday, September 22nd. They now have an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.69.
East West Bancorp, Inc (NASDAQ:EWBC) is a bank holding company.
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