East West Bancorp, Inc. (NASDAQ:EWBC)‘s stock had its “buy” rating reissued by stock analysts at SunTrust Banks, Inc. in a note issued to investors on Thursday. They currently have a $65.00 price target on the financial services provider’s stock. SunTrust Banks, Inc.’s target price suggests a potential upside of 9.21% from the company’s current price.

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Raymond James Financial, Inc. upgraded shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 5th. BMO Capital Markets restated a “hold” rating and issued a $61.00 price target on shares of East West Bancorp in a research report on Thursday, October 5th. Morgan Stanley restated an “equal weight” rating and issued a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $63.33.

Shares of East West Bancorp (EWBC) traded down 0.57% during trading on Thursday, hitting $59.52. 601,409 shares of the stock traded hands. The firm has a 50 day moving average price of $56.96 and a 200-day moving average price of $55.97. The company has a market cap of $8.60 billion, a PE ratio of 17.00 and a beta of 1.46. East West Bancorp has a one year low of $37.75 and a one year high of $60.74.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period last year, the business posted $0.71 EPS. Analysts anticipate that East West Bancorp will post $3.71 earnings per share for the current fiscal year.

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In other news, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now directly 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 available through this hyperlink. 0.88% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of EWBC. D.A. Davidson & CO. lifted its holdings in East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares during the last quarter. Cadence Capital Management LLC lifted its holdings in East West Bancorp by 1.0% during the 2nd quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 60 shares during the last quarter. Wright Investors Service Inc. lifted its holdings in East West Bancorp by 0.6% during the 2nd quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock valued at $829,000 after purchasing an additional 90 shares during the last quarter. Utah Retirement Systems lifted its holdings in East West Bancorp by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock valued at $1,540,000 after purchasing an additional 100 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC lifted its holdings in East West Bancorp by 1.3% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.

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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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