East West Bancorp, Inc. (NASDAQ:EWBC) has been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $67.25.
EWBC has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, January 8th. Raymond James Financial upgraded East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $63.00 price target (up previously from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $65.00 price target on shares of East West Bancorp in a research report on Thursday, October 12th.
Shares of East West Bancorp (NASDAQ EWBC) traded up $0.35 on Monday, reaching $67.21. The company’s stock had a trading volume of 719,300 shares, compared to its average volume of 929,427. East West Bancorp has a fifty-two week low of $48.07 and a fifty-two week high of $67.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. The firm has a market cap of $9,710.00, a PE ratio of 18.41, a PEG ratio of 1.49 and a beta of 1.46.
In related news, Director Jack C. Liu sold 2,200 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the sale, the director now owns 23,599 shares in the company, valued at approximately $1,370,393.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the director now owns 40,130 shares in the company, valued at approximately $2,447,930. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,200 shares of company stock worth $1,044,054. 0.88% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank bought a new stake in shares of East West Bancorp during the 2nd quarter valued at about $104,000. National Pension Service bought a new position in East West Bancorp in the fourth quarter worth approximately $116,000. San Francisco Sentry Investment Group CA bought a new position in East West Bancorp in the second quarter worth approximately $138,000. D.A. Davidson & CO. boosted its holdings in East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 26 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new position in East West Bancorp in the second quarter worth approximately $149,000. Institutional investors own 91.38% of the company’s stock.
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East West Bancorp Company Profile
East West Bancorp, Inc 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 is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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