East West Bancorp, Inc. (NASDAQ:EWBC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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 recently issued research reports about the company. Piper Jaffray Companies set a $68.00 target price on East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, June 17th. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 target price (up previously from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 target price on shares of East West Bancorp in a research report on Friday, June 23rd. Finally, Deutsche Bank AG cut East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $63.00.

East West Bancorp (NASDAQ EWBC) traded down 0.82% during mid-day trading on Monday, hitting $56.95. 605,114 shares of the company’s stock traded hands. East West Bancorp has a one year low of $35.53 and a one year high of $60.42. The firm’s 50-day moving average price is $55.78 and its 200-day moving average price is $55.37. The stock has a market cap of $8.23 billion, a PE ratio of 16.27 and a beta of 1.43.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts forecast that East West Bancorp will post $3.71 EPS for the current fiscal year.

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In related news, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction on Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. 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 company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWBC. Toronto Dominion Bank acquired a new stake in shares of East West Bancorp in the second quarter worth about $104,000. Strs Ohio acquired a new stake in shares of East West Bancorp in the second quarter worth about $110,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of East West Bancorp in the second quarter worth about $138,000. D.A. Davidson & CO. lifted its position in shares of East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after buying an additional 26 shares during the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of East West Bancorp in the second quarter worth about $149,000. 90.48% of the stock is owned by hedge funds and other 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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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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