East West Bancorp (NASDAQ:EWBC) Stock Price Expected to Rise, DA Davidson Analyst Says

East West Bancorp (NASDAQ:EWBCGet Free Report) had its target price raised by equities research analysts at DA Davidson from $135.00 to $140.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 15.27% from the stock’s previous close.

EWBC has been the topic of several other research reports. Truist Financial set a $121.00 target price on East West Bancorp in a research report on Friday, January 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $133.00 target price on shares of East West Bancorp in a research report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of East West Bancorp in a research report on Monday, December 29th. Barclays dropped their target price on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, TD Cowen dropped their target price on East West Bancorp from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.86.

Check Out Our Latest Stock Analysis on East West Bancorp

East West Bancorp Stock Performance

EWBC traded up $0.55 on Wednesday, hitting $121.45. 1,221,483 shares of the company traded hands, compared to its average volume of 1,130,565. The company has a 50 day moving average of $111.75 and a 200-day moving average of $110.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $16.64 billion, a PE ratio of 12.74, a PEG ratio of 1.57 and a beta of 0.90. East West Bancorp has a 12-month low of $83.11 and a 12-month high of $124.84.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.11. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.The company had revenue of $773.75 million for the quarter, compared to analysts’ expectations of $767.80 million. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that East West Bancorp will post 10.25 earnings per share for the current year.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 1,421 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $119.00, for a total value of $169,099.00. Following the completion of the transaction, the director directly owned 13,553 shares of the company’s stock, valued at $1,612,807. This trade represents a 9.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dominic Ng sold 50,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $117.82, for a total value of $5,891,000.00. Following the sale, the chief executive officer owned 808,331 shares in the company, valued at approximately $95,237,558.42. This trade represents a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 60,221 shares of company stock valued at $7,139,287. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of large investors have recently bought and sold shares of EWBC. Foster Dykema Cabot & Partners LLC acquired a new stake in East West Bancorp during the 3rd quarter valued at $26,000. Atlantic Union Bankshares Corp acquired a new stake in East West Bancorp during the 4th quarter valued at $31,000. Kelleher Financial Advisors acquired a new stake in East West Bancorp during the 3rd quarter valued at $31,000. Mather Group LLC. acquired a new stake in East West Bancorp during the 3rd quarter valued at $38,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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East West Bancorp Company Profile

(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.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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