East West Bancorp, Inc. (NASDAQ:EWBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $63.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.64% from the stock’s previous close.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

Several other research firms have also weighed in on EWBC. BMO Capital Markets lowered shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a research note on Friday, July 7th. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 target price (up previously from $59.00) on shares of East West Bancorp in a research note on Thursday, July 6th. Piper Jaffray Companies set a $68.00 target price on shares of East West Bancorp and gave the company a “buy” rating in a research note on Saturday, June 17th. BidaskClub upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Deutsche Bank AG lowered shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. East West Bancorp currently has a consensus rating of “Hold” and a consensus target price of $62.88.

East West Bancorp (EWBC) traded down 1.86% on Thursday, hitting $55.44. 588,229 shares of the company’s stock traded hands. East West Bancorp has a one year low of $35.52 and a one year high of $60.42. The stock has a market cap of $8.01 billion, a PE ratio of 15.84 and a beta of 1.43. The stock has a 50-day moving average of $55.86 and a 200-day moving average of $55.34.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The firm had revenue of $337.49 million during the quarter, compared to analyst estimates of $329.32 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that East West Bancorp will post $3.74 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in EWBC. BlackRock Inc. boosted its holdings in shares of East West Bancorp by 11,449.0% during the first quarter. BlackRock Inc. now owns 11,955,936 shares of the financial services provider’s stock valued at $617,046,000 after acquiring an additional 11,852,412 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of East West Bancorp by 128.7% during the second quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock valued at $172,888,000 after acquiring an additional 1,660,844 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of East West Bancorp by 75.9% during the second quarter. William Blair Investment Management LLC now owns 2,646,584 shares of the financial services provider’s stock valued at $155,037,000 after acquiring an additional 1,142,250 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of East West Bancorp by 6,167.5% during the first quarter. Victory Capital Management Inc. now owns 1,109,782 shares of the financial services provider’s stock valued at $57,276,000 after acquiring an additional 1,092,075 shares during the period. Finally, State Street Corp boosted its holdings in shares of East West Bancorp by 16.5% during the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after acquiring an additional 1,004,860 shares during the period. 91.34% of the stock is owned by institutional investors.

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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