East West Bancorp (NASDAQ:EWBC) Given New $105.00 Price Target at Wells Fargo & Company

East West Bancorp (NASDAQ:EWBC) had its price target hoisted by research analysts at Wells Fargo & Company from $97.00 to $105.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.04% from the company’s previous close.

Several other brokerages have also commented on EWBC. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Stephens raised their price objective on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wedbush boosted their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial increased their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.46.

East West Bancorp Trading Up 1.6 %

NASDAQ EWBC opened at $97.19 on Wednesday. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 12.24, 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 current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp has a 12 month low of $51.40 and a 12 month high of $98.95. The company’s fifty day moving average price is $83.66 and its two-hundred day moving average price is $78.49.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. During the same quarter last year, the company posted $2.02 earnings per share. As a group, research analysts predict that East West Bancorp will post 8.2 earnings per share for the current fiscal year.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other East West Bancorp news, 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 transaction of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EWBC. Riverview Trust Co bought a new position in East West Bancorp during the 1st quarter valued at $25,000. Oak Thistle LLC bought a new position in East West Bancorp during the first quarter valued at about $262,000. State of Michigan Retirement System grew its holdings in East West Bancorp by 2.4% during the first quarter. State of Michigan Retirement System now owns 34,622 shares of the financial services provider’s stock worth $2,739,000 after acquiring an additional 800 shares during the period. Norden Group LLC bought a new stake in East West Bancorp in the first quarter worth about $414,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in East West Bancorp in the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.