East West Bancorp Inc. (EWBC) PT Raised to $45.00
East West Bancorp Inc. (NASDAQ:EWBC) had its target price lifted by stock analysts at Deutsche Bank AG from $40.00 to $45.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price target would indicate a potential upside of 14.42% from the company’s current price.
Other equities analysts have also issued research reports about the company. BMO Capital Markets reissued a “buy” rating and set a $41.00 price target on shares of East West Bancorp in a report on Friday, July 22nd. Zacks Investment Research raised East West Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Macquarie raised East West Bancorp from a “neutral” rating to an “outperform” rating in a report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $43.43.
Shares of East West Bancorp (NASDAQ:EWBC) traded down 0.97% during trading on Tuesday, hitting $38.95. The stock had a trading volume of 626,538 shares. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 14.27 and a beta of 1.55. East West Bancorp has a 12-month low of $27.25 and a 12-month high of $43.94. The stock’s 50-day moving average is $36.52 and its 200-day moving average is $35.67.
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East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. East West Bancorp had a return on equity of 12.49% and a net margin of 31.15%. During the same quarter last year, the business earned $0.68 EPS. On average, equities research analysts expect that East West Bancorp will post $2.85 EPS for the current year.
In other news, Director Jack C. Liu sold 2,101 shares of East West Bancorp stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $37.35, for a total transaction of $78,472.35. Following the completion of the sale, the director now directly owns 29,006 shares in the company, valued at approximately $1,083,374.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rudolph Estrada sold 2,888 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.62, for a total transaction of $99,982.56. Following the sale, the director now owns 15,261 shares of the company’s stock, valued at $528,335.82. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of EWBC. Vanguard Group Inc. increased its stake in East West Bancorp by 4.7% in the second quarter. Vanguard Group Inc. now owns 10,503,670 shares of the financial services provider’s stock worth $359,016,000 after buying an additional 476,005 shares during the last quarter. JPMorgan Chase & Co. increased its stake in East West Bancorp by 25.5% in the first quarter. JPMorgan Chase & Co. now owns 6,422,821 shares of the financial services provider’s stock worth $208,612,000 after buying an additional 1,306,783 shares during the last quarter. State Street Corp increased its stake in East West Bancorp by 8.0% in the first quarter. State Street Corp now owns 6,222,360 shares of the financial services provider’s stock worth $202,098,000 after buying an additional 461,946 shares during the last quarter. BlackRock Fund Advisors increased its stake in East West Bancorp by 3.9% in the second quarter. BlackRock Fund Advisors now owns 5,241,234 shares of the financial services provider’s stock worth $179,145,000 after buying an additional 198,258 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in East West Bancorp by 24.6% in the second quarter. Lord Abbett & CO. LLC now owns 5,132,227 shares of the financial services provider’s stock worth $175,419,000 after buying an additional 1,013,941 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.
About East West Bancorp
East West Bancorp, Inc (East West) is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.
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