Stephens Forecasts Strong Price Appreciation for East West Bancorp (NASDAQ:EWBC) Stock

East West Bancorp (NASDAQ:EWBCGet Free Report) had its target price raised by Stephens from $129.00 to $135.00 in a report issued on Wednesday, Marketbeat reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 3.35% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Truist Financial raised their price objective on shares of East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a research report on Friday, July 10th. DA Davidson boosted their target price on shares of East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Barclays upped their target price on shares of East West Bancorp from $142.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of East West Bancorp in a research note on Wednesday. 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.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $140.23.

View Our Latest Report on EWBC

East West Bancorp Trading Down 0.7%

Shares of EWBC opened at $130.63 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.51 and a beta of 0.94. The stock has a fifty day moving average price of $127.94 and a two-hundred day moving average price of $119.45. East West Bancorp has a 52-week low of $92.67 and a 52-week high of $136.24.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $784.47 million. During the same quarter in the prior year, the business earned $2.24 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts predict that East West Bancorp will post 10.58 EPS for the current fiscal year.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Archana Deskus sold 1,800 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the sale, the director directly owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. The trade was a 11.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the transaction, the insider owned 46,974 shares in the company, valued at approximately $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,311 shares of company stock worth $6,784,711 in the last ninety days. 0.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On East West Bancorp

Institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new stake in shares of East West Bancorp during the fourth quarter worth approximately $31,000. Kelleher Financial Advisors bought a new position in East West Bancorp in the third quarter valued at approximately $31,000. Signaturefd LLC boosted its stake in East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 113 shares during the period. Finally, Quarry LP grew its holdings in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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About East West Bancorp

(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.

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