Cantor Fitzgerald Reiterates Overweight Rating for East West Bancorp (NASDAQ:EWBC)

East West Bancorp (NASDAQ:EWBCGet Free Report)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research report issued on Wednesday, Marketbeat reports. They currently have a $150.00 target price on the financial services provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 14.83% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Morgan Stanley lifted their target price on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. TD Cowen increased their price target on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Wells Fargo & Company raised their price target on shares of East West Bancorp from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Piper Sandler lifted their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, UBS Group upped their price objective on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $140.23.

Read Our Latest Stock Report on East West Bancorp

East West Bancorp Stock Down 0.7%

Shares of EWBC stock opened at $130.63 on Wednesday. The stock has a 50 day moving average of $127.94 and a 200 day moving average of $119.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock has a market cap of $17.90 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.51 and a beta of 0.94. East West Bancorp has a twelve month low of $92.67 and a twelve month high of $136.24.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The company had revenue of $791.14 million during the quarter, compared to the consensus estimate of $784.47 million. During the same period in the previous year, the company posted $2.24 earnings per share. East West Bancorp’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that East West Bancorp will post 10.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Archana Deskus sold 1,800 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director owned 13,231 shares in the company, valued at $1,661,152.05. This trade represents a 11.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Irene H. Oh sold 11,211 shares of East West Bancorp stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the sale, the insider directly owned 85,998 shares in the company, valued at $11,093,742. This represents a 11.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,311 shares of company stock valued at $6,784,711. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Oak Thistle LLC purchased a new position in shares of East West Bancorp during the 4th quarter worth $1,530,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of East West Bancorp by 84,090.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after acquiring an additional 5,305,257 shares during the last quarter. Mach 1 Financial Group LLC purchased a new stake in shares of East West Bancorp in the fourth quarter valued at about $1,044,000. Geode Capital Management LLC grew its holdings in shares of East West Bancorp by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider’s stock valued at $319,523,000 after purchasing an additional 27,402 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of East West Bancorp by 141.2% in the fourth quarter. SG Americas Securities LLC now owns 128,368 shares of the financial services provider’s stock valued at $14,427,000 after purchasing an additional 75,147 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Key Headlines Impacting East West Bancorp

Here are the key news stories impacting East West Bancorp this week:

East West Bancorp Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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