East West Bancorp (NASDAQ:EWBC) PT Raised to $110.00 at Wedbush

East West Bancorp (NASDAQ:EWBC) had its price objective hoisted by equities research analysts at Wedbush from $100.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Wedbush’s price target indicates a potential upside of 13.26% from the stock’s previous close.

EWBC has been the subject of several other research reports. Wells Fargo & Company boosted their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Financial Group decreased their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Citigroup lifted their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays lifted their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $96.54.

East West Bancorp Stock Up 7.5 %

East West Bancorp stock traded up $6.74 during midday trading on Wednesday, hitting $97.12. 1,177,720 shares of the stock were exchanged, compared to its average volume of 926,111. The company has a 50 day moving average price of $82.97 and a two-hundred day moving average price of $78.23. The firm has a market cap of $13.51 billion, a P/E ratio of 12.23, a P/E/G ratio of 2.08 and a beta of 1.29. East West Bancorp has a 1 year low of $51.40 and a 1 year high of $98.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. During the same quarter in the previous year, the firm earned $2.02 EPS. On average, sell-side analysts predict that East West Bancorp will post 8.2 earnings per share for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the sale, the director now directly owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,346 shares of company stock valued at $1,108,160 in the last ninety days. Company insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

A number of institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its stake in shares of East West Bancorp by 2.8% in the 2nd quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 128 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 133 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of East West Bancorp by 4.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of East West Bancorp by 3.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 160 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of East West Bancorp by 5.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,178 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 165 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

About East West Bancorp

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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.