East West Bancorp, Inc. (NASDAQ:EWBC) was upgraded by analysts at Raymond James Financial, Inc. from an “underperform” rating to a “market perform” rating in a report issued on Thursday.

A number of other analysts have also recently commented on EWBC. BMO Capital Markets restated a “hold” rating and set a $61.00 target price on shares of East West Bancorp in a report on Thursday. Morgan Stanley restated an “equal weight” rating and set a $63.00 target price (up previously from $61.00) on shares of East West Bancorp in a report on Wednesday. BidaskClub cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $68.00 target price on shares of East West Bancorp and gave the company a “buy” rating in a report on Saturday, June 17th. Finally, Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. East West Bancorp has an average rating of “Hold” and a consensus target price of $63.13.

East West Bancorp (NASDAQ:EWBC) opened at 58.72 on Thursday. East West Bancorp has a 1-year low of $37.75 and a 1-year high of $60.74. The firm has a 50 day moving average of $56.26 and a 200-day moving average of $55.65. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 16.77 and a beta of 1.46.

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

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In related news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the transaction, the director now owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Synovus Financial Corp boosted its stake in East West Bancorp by 0.3% in the 2nd quarter. Synovus Financial Corp now owns 6,483 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 20 shares in the last quarter. D.A. Davidson & CO. boosted its stake in East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 26 shares in the last quarter. Cadence Capital Management LLC boosted its stake in East West Bancorp by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 60 shares in the last quarter. Washington Trust Bank boosted its stake in East West Bancorp by 3.7% in the 1st quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 86 shares in the last quarter. Finally, Wright Investors Service Inc. boosted its stake in East West Bancorp by 0.6% in the 2nd quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock worth $829,000 after purchasing an additional 90 shares in the last quarter. 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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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