East West Bancorp (NASDAQ:EWBC) PT Raised to $89.00

East West Bancorp (NASDAQ:EWBCGet Free Report) had its price objective lifted by research analysts at Morgan Stanley from $76.00 to $89.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 28.67% from the company’s current price.

Several other equities analysts have also recently commented on EWBC. Citigroup cut their target price on shares of East West Bancorp from $89.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Stephens started coverage on shares of East West Bancorp in a research note on Friday, December 8th. They set an “overweight” rating and a $79.00 target price for the company. Bank of America cut their target price on shares of East West Bancorp from $75.00 to $74.00 in a research note on Tuesday, October 10th. Wedbush reiterated an “outperform” rating and set a $86.00 target price on shares of East West Bancorp in a research note on Wednesday, January 24th. Finally, Jefferies Financial Group cut their target price on shares of East West Bancorp from $68.00 to $58.00 in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.08.

View Our Latest Analysis on EWBC

East West Bancorp Stock Performance

EWBC stock opened at $69.17 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 8.46, a P/E/G ratio of 0.88 and a beta of 1.40. East West Bancorp has a 12 month low of $33.86 and a 12 month high of $80.06. The firm has a 50 day moving average of $71.00 and a two-hundred day moving average of $61.14.

East West Bancorp (NASDAQ:EWBCGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. The business had revenue of $654.70 million during the quarter, compared to analysts’ expectations of $641.91 million. During the same period in the previous year, the company earned $2.37 earnings per share. East West Bancorp’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that East West Bancorp will post 7.84 EPS for the current fiscal year.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $68.90, for a total transaction of $68,900.00. Following the sale, the director now owns 18,739 shares of the company’s stock, valued at approximately $1,291,117.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $68.90, for a total transaction of $68,900.00. Following the sale, the director now owns 18,739 shares of the company’s stock, valued at approximately $1,291,117.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Molly Campbell sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $62.16, for a total transaction of $279,720.00. Following the completion of the transaction, the director now directly owns 11,946 shares in the company, valued at approximately $742,563.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,500 shares of company stock valued at $1,108,100. 0.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Denali Advisors LLC raised its position in shares of East West Bancorp by 66.7% in the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 200 shares during the period. First Horizon Advisors Inc. raised its position in shares of East West Bancorp by 65.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 211 shares during the period. Planned Solutions Inc. acquired a new stake in shares of East West Bancorp in the 4th quarter valued at approximately $40,000. Global Retirement Partners LLC raised its position in shares of East West Bancorp by 1,050.0% in the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 609 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in shares of East West Bancorp in the 4th quarter valued at approximately $53,000. Institutional investors own 87.11% of the company’s stock.

About East West Bancorp

(Get Free Report)

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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