DA Davidson Issues Pessimistic Forecast for East West Bancorp (NASDAQ:EWBC) Stock Price

East West Bancorp (NASDAQ:EWBC) had its price objective decreased by analysts at DA Davidson from $120.00 to $118.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 14.64% from the company’s current price.

Several other research firms also recently issued reports on EWBC. Truist Financial upped their price target on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. UBS Group started coverage on shares of East West Bancorp in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price target on the stock. Piper Sandler upped their price objective on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Stephens lowered shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.23.

East West Bancorp Stock Down 0.6 %

EWBC stock opened at $102.93 on Friday. The firm has a market cap of $14.27 billion, a PE ratio of 13.00, a PEG ratio of 2.85 and a beta of 1.30. East West Bancorp has a 1 year low of $67.27 and a 1 year high of $113.95. The company has a fifty day simple moving average of $101.30 and a 200 day simple moving average of $91.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now directly owns 17,750 shares in the company, valued at $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. This represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,969 shares of company stock worth $2,458,276. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RBA Wealth Management LLC raised its stake in shares of East West Bancorp by 0.3% in the fourth quarter. RBA Wealth Management LLC now owns 56,472 shares of the financial services provider’s stock valued at $5,408,000 after acquiring an additional 162 shares during the last quarter. JB Capital LLC increased its holdings in East West Bancorp by 2.9% during the 4th quarter. JB Capital LLC now owns 55,064 shares of the financial services provider’s stock valued at $5,273,000 after purchasing an additional 1,542 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in East West Bancorp by 12.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,409 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 263 shares during the last quarter. Institute for Wealth Management LLC. acquired a new position in East West Bancorp in the fourth quarter worth $278,000. Finally, R Squared Ltd bought a new stake in shares of East West Bancorp during the fourth quarter worth $180,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.