TD Cowen Lowers East West Bancorp (NASDAQ:EWBC) Price Target to $140.00

East West Bancorp (NASDAQ:EWBC) had its price target lowered by investment analysts at TD Cowen from $141.00 to $140.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 23.46% from the company’s current price.

A number of other research firms have also weighed in on EWBC. Weiss Ratings restated a “buy (b-)” rating on shares of East West Bancorp in a research note on Monday, December 29th. Barclays boosted their price target on shares of East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. UBS Group restated a “neutral” rating and issued a $126.00 price objective on shares of East West Bancorp in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of East West Bancorp in a research report on Tuesday, December 16th. They set a “buy” rating and a $133.00 price objective for the company. Finally, Truist Financial set a $121.00 target price on East West Bancorp in a report on Friday. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.21.

East West Bancorp Price Performance

East West Bancorp stock opened at $113.40 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. East West Bancorp has a 52-week low of $68.27 and a 52-week high of $119.73. The firm has a market cap of $15.60 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88. The company’s 50 day moving average is $112.44 and its two-hundred day moving average is $106.91.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.04. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.The business had revenue of $754.92 million for the quarter, compared to analysts’ expectations of $745.04 million. During the same period last year, the firm earned $2.10 earnings per share. On average, research analysts expect that East West Bancorp will post 8.85 EPS for the current fiscal year.

Insider Activity at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $113.63, for a total value of $3,408,900.00. Following the sale, the chief executive officer owned 858,314 shares of the company’s stock, valued at $97,530,219.82. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Parker Shi sold 8,844 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $115.03, for a total transaction of $1,017,325.32. Following the transaction, the chief operating officer directly owned 14,950 shares of the company’s stock, valued at approximately $1,719,698.50. This trade represents a 37.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,344 shares of company stock valued at $8,184,226 in the last 90 days. 1.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On East West Bancorp

A number of large investors have recently bought and sold shares of EWBC. Ticino Wealth purchased a new stake in shares of East West Bancorp in the fourth quarter valued at $337,000. Novem Group purchased a new position in shares of East West Bancorp during the fourth quarter valued at approximately $1,235,000. TD Waterhouse Canada Inc. acquired a new stake in East West Bancorp during the fourth quarter worth approximately $122,000. Seeds Investor LLC grew its stake in East West Bancorp by 18.8% in the 4th quarter. Seeds Investor LLC now owns 4,039 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 639 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of East West Bancorp by 1.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 121,476 shares of the financial services provider’s stock worth $14,297,000 after purchasing an additional 1,434 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

About East West Bancorp

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.