East West Bancorp’s (EWBC) Overweight Rating Reaffirmed at Cantor Fitzgerald

East West Bancorp (NASDAQ:EWBCGet Free Report)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $150.00 price objective on the financial services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 12.44% from the stock’s previous close.

Several other equities research analysts have also issued reports on EWBC. Weiss Ratings restated a “buy (b)” rating on shares of East West Bancorp in a report on Friday, July 10th. Barclays upped their price objective on shares of East West Bancorp from $142.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. TD Cowen lifted their price target on East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wall Street Zen cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, Truist Financial boosted their price target on East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.31.

View Our Latest Analysis on East West Bancorp

East West Bancorp Trading Down 0.4%

Shares of NASDAQ:EWBC opened at $133.40 on Wednesday. East West Bancorp has a 52-week low of $92.67 and a 52-week high of $136.24. The stock’s 50-day simple moving average is $127.49 and its two-hundred day simple moving average is $119.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.54 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, beating the consensus estimate of $2.61 by $0.02. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The business had revenue of $791.14 million for the quarter, compared to the consensus estimate of $784.47 million. During the same period in the previous year, the business earned $2.24 earnings per share. Analysts expect that East West Bancorp will post 10.56 EPS for the current year.

Insider Buying and Selling at East West Bancorp

In related news, insider Irene H. Oh sold 800 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the transaction, the insider directly owned 84,698 shares in the company, valued at $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the sale, the insider directly owned 46,974 shares in the company, valued at $5,801,289. This represents a 17.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,311 shares of company stock valued at $6,784,711. 0.94% of the stock is currently owned by insiders.

Institutional Trading of East West Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of East West Bancorp by 84,090.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after purchasing an additional 5,305,257 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of East West Bancorp by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after acquiring an additional 106,998 shares during the period. First Trust Advisors LP increased its stake in shares of East West Bancorp by 7.1% in the 4th quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock valued at $519,329,000 after purchasing an additional 306,916 shares in the last quarter. Boston Partners increased its stake in shares of East West Bancorp by 19.6% in the 3rd quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock valued at $412,464,000 after purchasing an additional 633,649 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in East West Bancorp by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider’s stock worth $423,619,000 after purchasing an additional 318,303 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting East West Bancorp

Here are the key news stories impacting East West Bancorp this week:

About East West Bancorp

(Get Free Report)

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

Further Reading

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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