East West Bancorp Inc. (NASDAQ:EWBC) has received an average recommendation of “Buy” from the nine research firms that are presently covering the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $43.40.
EWBC has been the topic of a number of recent analyst reports. Macquarie upgraded East West Bancorp from a “neutral” rating to an “outperform” rating in a report on Friday, July 22nd. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets reiterated a “buy” rating and set a $41.00 price objective on shares of East West Bancorp in a report on Friday, July 22nd.
East West Bancorp (NASDAQ:EWBC) opened at 39.06 on Tuesday. East West Bancorp has a one year low of $27.25 and a one year high of $43.94. The stock has a 50 day moving average price of $36.24 and a 200-day moving average price of $35.54. The firm has a market cap of $5.63 billion, a P/E ratio of 14.31 and a beta of 1.55.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. East West Bancorp had a return on equity of 12.49% and a net margin of 31.15%. During the same quarter in the previous year, the company earned $0.68 EPS. Analysts predict that East West Bancorp will post $2.85 EPS for the current fiscal year.
In related news, Director Jack C. Liu sold 2,101 shares of East West Bancorp stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $37.35, for a total value of $78,472.35. Following the sale, the director now owns 29,006 shares of the company’s stock, valued at approximately $1,083,374.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rudolph Estrada sold 2,888 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.62, for a total value of $99,982.56. Following the completion of the sale, the director now directly owns 15,261 shares in the company, valued at approximately $528,335.82. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in EWBC. Telemus Capital LLC raised its stake in shares of East West Bancorp by 8.6% in the third quarter. Telemus Capital LLC now owns 63,647 shares of the financial services provider’s stock worth $2,336,000 after buying an additional 5,014 shares in the last quarter. Macquarie Group Ltd. raised its position in East West Bancorp by 2.1% in the second quarter. Macquarie Group Ltd. now owns 3,974,657 shares of the financial services provider’s stock valued at $135,854,000 after buying an additional 80,002 shares during the period. Mason Street Advisors LLC bought a new position in East West Bancorp during the second quarter valued at $2,246,000. Public Employees Retirement System of Ohio raised its position in East West Bancorp by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 216,536 shares of the financial services provider’s stock valued at $7,401,000 after buying an additional 946 shares during the period. Finally, Colonial Trust Advisors bought a new position in East West Bancorp during the second quarter valued at $761,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.
East West Bancorp Company Profile
East West Bancorp, Inc (East West) is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.
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