East West Bancorp (NASDAQ:EWBC) Price Target Raised to $110.00

East West Bancorp (NASDAQ:EWBC) had its target price raised by Wedbush from $100.00 to $110.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on EWBC. Morgan Stanley increased their target price on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Stephens raised their price objective on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Piper Sandler raised their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup raised their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.08.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $95.63 on Wednesday. The business’s fifty day moving average price is $83.31 and its two-hundred day moving average price is $78.36. The stock has a market cap of $13.31 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp has a one year low of $51.40 and a one year high of $98.95.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same quarter in the prior year, the firm earned $2.02 EPS. On average, analysts forecast that East West Bancorp will post 8.2 EPS for the current fiscal year.

Insider Activity at East West Bancorp

In related news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the transaction, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in shares of East West Bancorp during the first quarter worth about $25,000. UMB Bank n.a. increased its position in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 283 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of East West Bancorp during the second quarter worth about $30,000. American Capital Advisory LLC purchased a new stake in shares of East West Bancorp during the second quarter worth about $31,000. Finally, Tobam increased its position in shares of East West Bancorp by 131.7% during the third quarter. Tobam now owns 482 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 274 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Company Profile

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.