East West Bancorp, Inc. (EWBC) Receives $67.25 Average Target Price from Brokerages

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.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was up 15.0% on a year-over-year basis. equities analysts forecast that East West Bancorp will post 3.49 earnings per share for the current fiscal year.

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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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