East West Bancorp (EWBC) Raised to “Hold” at BidaskClub

East West Bancorp (NASDAQ:EWBC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley raised their target price on shares of East West Bancorp from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Barclays raised their target price on shares of East West Bancorp from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, BMO Capital Markets raised their target price on shares of East West Bancorp to $74.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. East West Bancorp has a consensus rating of “Buy” and a consensus target price of $69.50.

East West Bancorp (NASDAQ:EWBC) opened at $64.18 on Friday. The firm has a market cap of $9,276.77, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.39 and a beta of 1.45. East West Bancorp has a 52 week low of $48.07 and a 52 week high of $69.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The company had revenue of $365.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the previous year, the business posted $0.76 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. equities analysts predict that East West Bancorp will post 4.4 EPS for the current fiscal year.

In other news, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the transaction, the director now owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Iris S. Chan sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $66.69, for a total transaction of $133,380.00. Following the completion of the transaction, the director now directly owns 20,301 shares in the company, valued at approximately $1,353,873.69. The disclosure for this sale can be found here. Insiders sold a total of 11,200 shares of company stock worth $704,434 in the last ninety days. 0.88% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank purchased a new position in shares of East West Bancorp in the 2nd quarter worth approximately $104,000. National Pension Service purchased a new position in shares of East West Bancorp in the 4th quarter worth approximately $116,000. Contravisory Investment Management Inc. purchased a new position in shares of East West Bancorp in the 4th quarter worth approximately $129,000. Field & Main Bank purchased a new position in shares of East West Bancorp in the 4th quarter worth approximately $146,000. Finally, Americafirst Capital Management LLC purchased a new position in shares of East West Bancorp in the 2nd quarter worth approximately $149,000. 91.39% of the stock is currently owned by hedge funds and other institutional investors.

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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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