East West Bancorp, Inc. (EWBC) Receives Average Rating of “Buy” from Analysts

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Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been given a consensus recommendation of “Buy” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $65.89.

A number of brokerages have recently weighed in on EWBC. DA Davidson upgraded East West Bancorp from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 27th. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Zacks Investment Research cut East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Morgan Stanley dropped their price target on East West Bancorp from $67.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 11th. Finally, ValuEngine upgraded East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd.

Shares of NASDAQ EWBC traded down $2.77 on Friday, hitting $46.63. The company had a trading volume of 2,206,752 shares, compared to its average volume of 827,601. East West Bancorp has a 12-month low of $40.05 and a 12-month high of $73.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.92 and a beta of 1.56.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. The company had revenue of $411.11 million during the quarter, compared to the consensus estimate of $408.61 million. East West Bancorp had a return on equity of 16.26% and a net margin of 37.78%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. Research analysts expect that East West Bancorp will post 5.1 EPS for the current fiscal year.

In other East West Bancorp news, Director Rudolph Estrada sold 1,902 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $52.64, for a total transaction of $100,121.28. Following the completion of the transaction, the director now directly owns 15,089 shares of the company’s stock, valued at approximately $794,284.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,108 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $55.20, for a total value of $116,361.60. Following the transaction, the director now directly owns 18,857 shares of the company’s stock, valued at $1,040,906.40. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EWBC. Bank of Montreal Can raised its holdings in East West Bancorp by 24.5% during the third quarter. Bank of Montreal Can now owns 12,366 shares of the financial services provider’s stock valued at $748,000 after buying an additional 2,434 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of East West Bancorp by 3.1% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 80,197 shares of the financial services provider’s stock valued at $4,841,000 after acquiring an additional 2,400 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of East West Bancorp by 40.0% during the 3rd quarter. Dupont Capital Management Corp now owns 21,032 shares of the financial services provider’s stock valued at $1,270,000 after acquiring an additional 6,010 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of East West Bancorp by 2.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 457,183 shares of the financial services provider’s stock valued at $27,600,000 after acquiring an additional 9,659 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of East West Bancorp by 9.3% during the 3rd quarter. Toronto Dominion Bank now owns 15,739 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 1,334 shares during the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Company Profile

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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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