East West Bancorp (NASDAQ:EWBC) Given Outperform Rating at Wedbush

East West Bancorp (NASDAQ:EWBC)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $90.00 target price on the financial services provider’s stock. Wedbush’s price objective would suggest a potential upside of 19.52% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Truist Financial raised their target price on shares of East West Bancorp from $85.00 to $90.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley lifted their target price on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Piper Sandler lifted their target price on shares of East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Jefferies Financial Group lifted their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Barclays assumed coverage on shares of East West Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $106.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

East West Bancorp Trading Up 1.1 %

NASDAQ EWBC opened at $75.30 on Wednesday. The firm has a 50 day simple moving average of $74.58 and a 200-day simple moving average of $68.28. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.95 and a beta of 1.39. East West Bancorp has a one year low of $41.12 and a one year high of $79.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $654.70 million for the quarter, compared to analysts’ expectations of $641.91 million. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.37 earnings per share. Equities research analysts anticipate that East West Bancorp will post 7.87 EPS for the current fiscal year.

Insider Activity at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the transaction, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of EWBC. Riverview Trust Co acquired a new stake in shares of East West Bancorp during the 1st quarter valued at approximately $25,000. First Horizon Advisors Inc. grew its stake in shares of East West Bancorp by 65.1% in the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of East West Bancorp in the fourth quarter worth $29,000. Rise Advisors LLC bought a new position in shares of East West Bancorp in the first quarter worth $30,000. Finally, Mather Group LLC. bought a new position in shares of East West Bancorp in the first quarter worth $35,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About East West Bancorp

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.