East West Bancorp (NASDAQ:EWBC) Stock Price Expected to Rise, TD Cowen Analyst Says

East West Bancorp (NASDAQ:EWBC) had its price objective lifted by equities research analysts at TD Cowen from $135.00 to $141.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 18.65% from the company’s previous close.

Several other research firms also recently issued reports on EWBC. Weiss Ratings restated a “buy (b-)” rating on shares of East West Bancorp in a research note on Monday, December 29th. Cantor Fitzgerald began coverage on East West Bancorp in a report on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 target price for the company. Cowen reissued a “buy” rating on shares of East West Bancorp in a research report on Wednesday. Barclays lifted their price target on East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, Truist Financial increased their price objective on East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.08.

East West Bancorp Stock Performance

Shares of EWBC opened at $118.84 on Wednesday. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. East West Bancorp has a 52-week low of $68.27 and a 52-week high of $119.68. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $109.28 and a 200 day moving average price of $105.97.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The business had revenue of $627.36 million during the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. Research analysts predict that East West Bancorp will post 8.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Parker Shi sold 8,844 shares of East West Bancorp stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $115.03, for a total value of $1,017,325.32. Following the transaction, the chief operating officer directly owned 14,950 shares in the company, valued at $1,719,698.50. This trade represents a 37.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Molly Campbell sold 1,520 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $104.73, for a total transaction of $159,189.60. Following the completion of the transaction, the director directly owned 7,556 shares in the company, valued at $791,339.88. This represents a 16.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 73,344 shares of company stock valued at $8,184,226. 1.04% of the stock is owned by company insiders.

Institutional Trading of East West Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vident Advisory LLC raised its holdings in East West Bancorp by 19.5% during the first quarter. Vident Advisory LLC now owns 2,761 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 451 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of East West Bancorp by 8.8% during the 1st quarter. NewEdge Advisors LLC now owns 19,072 shares of the financial services provider’s stock worth $1,712,000 after buying an additional 1,546 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of East West Bancorp by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 503,446 shares of the financial services provider’s stock worth $45,189,000 after buying an additional 16,620 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of East West Bancorp by 2.8% in the 1st quarter. Focus Partners Wealth now owns 62,903 shares of the financial services provider’s stock valued at $5,646,000 after buying an additional 1,739 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of East West Bancorp by 66.9% in the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock valued at $72,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.