Truist Financial Increases East West Bancorp (NASDAQ:EWBC) Price Target to $101.00

East West Bancorp (NASDAQ:EWBC) had its price target raised by equities researchers at Truist Financial from $93.00 to $101.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective points to a potential upside of 3.92% from the company’s previous close.

A number of other research firms have also recently commented on EWBC. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. DA Davidson raised their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Stephens upped their price objective on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.46.

East West Bancorp Stock Up 1.6 %

EWBC stock opened at $97.19 on Wednesday. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.08 and a beta of 1.29. East West Bancorp has a twelve month low of $51.40 and a twelve month high of $98.95. The business has a 50 day moving average price of $83.66 and a two-hundred day moving average price of $78.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last issued its 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. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same period in the previous year, the company posted $2.02 EPS. Analysts anticipate that East West Bancorp will post 8.2 EPS for the current fiscal year.

Insider Activity

In other news, Director Jack C. Liu sold 2,000 shares of the business’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 transaction, the director now owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the company’s 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 sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the company’s 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 sale, the executive vice president now owns 18,891 shares of the company’s stock, 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. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new position in East West Bancorp in the first quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in East West Bancorp in the 2nd quarter valued at about $30,000. UMB Bank n.a. increased its position in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares during the period. American Capital Advisory LLC acquired a new position in East West Bancorp during the 2nd quarter worth approximately $31,000. Finally, Signaturefd LLC increased its position in East West Bancorp by 490.1% during the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 446 shares during the period. Hedge funds and other institutional investors 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.