TD Cowen Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $141.00

East West Bancorp (NASDAQ:EWBC) had its target price increased by equities research analysts at TD Cowen from $135.00 to $141.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 19.84% from the stock’s current price.

A number of other brokerages have also weighed in on EWBC. Cowen reaffirmed a “buy” rating on shares of East West Bancorp in a research report on Wednesday. Zacks Research lowered shares of East West Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 24th. UBS Group reaffirmed a “neutral” rating and issued a $126.00 price objective on shares of East West Bancorp in a research note on Tuesday. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of East West Bancorp in a research report on Tuesday, December 16th. They set a “buy” rating and a $133.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $126.08.

East West Bancorp Trading Down 0.0%

Shares of EWBC stock traded down $0.03 during trading hours on Wednesday, hitting $117.66. 178,547 shares of the company were exchanged, compared to its average volume of 556,313. The firm has a market cap of $16.19 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.20 and a beta of 0.88. East West Bancorp has a fifty-two week low of $68.27 and a fifty-two week high of $118.55. The company has a 50 day simple moving average of $108.59 and a two-hundred day simple moving average of $105.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. The business had revenue of $627.36 million during the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. Equities analysts anticipate that East West Bancorp will post 8.85 EPS for the current year.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $113.63, for a total value of $3,408,900.00. Following the completion of the sale, the chief executive officer directly owned 858,314 shares of the company’s stock, valued at approximately $97,530,219.82. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 1,520 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $104.73, for a total transaction of $159,189.60. Following the completion of the sale, the director owned 7,556 shares of the company’s stock, valued at approximately $791,339.88. This trade represents a 16.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 73,344 shares of company stock valued at $8,184,226 in the last quarter. 1.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP boosted its stake in East West Bancorp by 35.4% in the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 102 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of East West Bancorp by 1.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 102 shares during the period. EverSource Wealth Advisors LLC lifted its stake in East West Bancorp by 4.3% in the third quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 108 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 113 shares during the period. Finally, Brighton Jones LLC grew its holdings in East West Bancorp by 4.5% during the third quarter. Brighton Jones LLC now owns 2,762 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About East West Bancorp

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.