East West Bancorp (NASDAQ:EWBC) Upgraded by StockNews.com to “Hold” Rating

East West Bancorp (NASDAQ:EWBC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also weighed in on EWBC. UBS Group initiated coverage on East West Bancorp in a research report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price objective on the stock. Wedbush upped their price target on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial upped their price target on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Compass Point upped their price target on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.38.

East West Bancorp Price Performance

EWBC stock traded up $1.17 during midday trading on Tuesday, reaching $98.97. 931,229 shares of the stock were exchanged, compared to its average volume of 910,805. The stock has a market capitalization of $13.72 billion, a PE ratio of 11.88, a P/E/G ratio of 1.36 and a beta of 1.30. East West Bancorp has a 52 week low of $68.36 and a 52 week high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The company has a fifty day moving average price of $99.91 and a 200 day moving average price of $92.94.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 1,275 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.53, for a total transaction of $133,275.75. Following the transaction, the director now directly owns 14,557 shares of the company’s stock, valued at approximately $1,521,643.21. This represents a 8.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is owned by company insiders.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of East West Bancorp in the third quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp during the third quarter valued at approximately $26,000. UMB Bank n.a. lifted its holdings in 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 period. Venturi Wealth Management LLC boosted its position in East West Bancorp by 73.2% in the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 175 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 306 shares during the period. 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.