East West Bancorp, Inc. (EWBC) Stock Rating Reaffirmed by Keefe, Bruyette & Woods
East West Bancorp, Inc. (NASDAQ:EWBC)‘s stock had its “hold” rating restated by investment analysts at Keefe, Bruyette & Woods in a report issued on Tuesday. They currently have a $57.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 0.09% from the company’s current price.
A number of other brokerages also recently weighed in on EWBC. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Wedbush reissued an “outperform” rating and set a $68.00 price target on shares of East West Bancorp in a research report on Thursday, July 20th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $60.00 price target (up previously from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. East West Bancorp has an average rating of “Hold” and an average target price of $63.00.
Shares of East West Bancorp (NASDAQ EWBC) opened at 56.98 on Tuesday. The company has a market cap of $8.23 billion, a P/E ratio of 16.28 and a beta of 1.43. East West Bancorp has a 52 week low of $35.53 and a 52 week high of $60.42. The company’s 50-day moving average price is $55.78 and its 200 day moving average price is $55.37.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $337.49 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.71 earnings per share. On average, equities analysts forecast that East West Bancorp will post $3.71 EPS for the current fiscal year.
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In other news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $866,135.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of East West Bancorp by 11.5% during the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares during the period. Vanguard Group Inc. boosted its stake in shares of East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after buying an additional 893,764 shares during the period. State Street Corp boosted its stake in shares of East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after buying an additional 1,004,860 shares during the period. Boston Partners boosted its stake in shares of East West Bancorp by 14.4% in the second quarter. Boston Partners now owns 6,568,832 shares of the financial services provider’s stock valued at $384,802,000 after buying an additional 828,887 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of East West Bancorp by 5.5% in the second quarter. Macquarie Group Ltd. now owns 4,262,200 shares of the financial services provider’s stock valued at $249,680,000 after buying an additional 223,419 shares during the period. Institutional investors own 90.48% of the company’s stock.
East West Bancorp Company Profile
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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