East West Bancorp (NASDAQ:EWBC) PT Raised to $86.00 at Stephens

East West Bancorp (NASDAQ:EWBC) had its target price increased by equities researchers at Stephens from $85.00 to $86.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price target would suggest a potential upside of 12.62% from the stock’s current price.

Several other analysts have also issued reports on EWBC. Barclays began coverage on East West Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $106.00 target price for the company. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of East West Bancorp in a research note on Wednesday. Morgan Stanley increased their price objective on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Compass Point increased their price objective on East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Truist Financial increased their price objective on East West Bancorp from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

East West Bancorp Stock Down 1.1 %

EWBC stock opened at $76.36 on Wednesday. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. The company’s 50 day moving average is $74.76 and its 200 day moving average is $68.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. East West Bancorp has a 1-year low of $41.12 and a 1-year high of $79.54.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. The business had revenue of $644.13 million during the quarter, compared to analyst estimates of $636.77 million. East West Bancorp had a return on equity of 17.66% and a net margin of 26.78%. East West Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.32 earnings per share. Sell-side analysts predict that East West Bancorp will post 7.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of East West Bancorp during the 4th quarter valued at about $115,369,000. Westfield Capital Management Co. LP purchased a new position in shares of East West Bancorp during the 4th quarter valued at about $67,692,000. Boston Partners lifted its position in shares of East West Bancorp by 48.5% during the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after buying an additional 886,841 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of East West Bancorp by 30.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after buying an additional 751,944 shares in the last quarter. Finally, Ruffer LLP purchased a new position in shares of East West Bancorp during the 3rd quarter valued at about $33,675,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

About East West Bancorp

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.