East West Bancorp, Inc. (NASDAQ:EWBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $63.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.17% from the company’s previous close.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a research note on Monday, May 22nd. Piper Jaffray Companies set a $68.00 price target on East West Bancorp and gave the company a “buy” rating in a research note on Saturday, June 17th. Wedbush reaffirmed an “outperform” rating and issued a $68.00 price target on shares of East West Bancorp in a research note on Tuesday, June 27th. Morgan Stanley boosted their price target on East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 6th. Finally, BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. East West Bancorp currently has an average rating of “Hold” and a consensus target price of $62.88.

East West Bancorp (EWBC) traded down 2.86% during midday trading on Thursday, hitting $54.70. 673,978 shares of the company traded hands. East West Bancorp has a 12-month low of $34.08 and a 12-month high of $60.42. The stock has a market cap of $7.90 billion, a P/E ratio of 15.62 and a beta of 1.41. The stock has a 50 day moving average of $57.59 and a 200 day moving average of $55.05.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The company had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same quarter last year, the firm earned $0.71 EPS. Equities research analysts predict that East West Bancorp will post $3.74 EPS for the current fiscal year.

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In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now owns 23,669 shares of the company’s stock, valued at $1,396,471. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of EWBC. Capstone Asset Management Co. raised its position in East West Bancorp by 5.0% in the first quarter. Capstone Asset Management Co. now owns 10,804 shares of the financial services provider’s stock worth $558,000 after buying an additional 510 shares in the last quarter. Louisiana State Employees Retirement System raised its position in East West Bancorp by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 36,400 shares of the financial services provider’s stock worth $1,879,000 after buying an additional 800 shares in the last quarter. Washington Trust Bank raised its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock worth $123,000 after buying an additional 86 shares in the last quarter. BTIM Corp. raised its position in East West Bancorp by 0.9% in the first quarter. BTIM Corp. now owns 208,026 shares of the financial services provider’s stock worth $10,736,000 after buying an additional 1,814 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its position in East West Bancorp by 1,805.7% in the first quarter. Sit Investment Associates Inc. now owns 316,350 shares of the financial services provider’s stock worth $16,327,000 after buying an additional 299,750 shares in the last quarter. 92.16% of the stock is currently owned by institutional investors.

About East West Bancorp

East West Bancorp, Inc 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 is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

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