East West Bancorp (NASDAQ:EWBC) Price Target Cut to $120.00 by Analysts at Barclays

East West Bancorp (NASDAQ:EWBC) had its price target reduced by Barclays from $125.00 to $120.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their target price on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted their target price on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Piper Sandler increased their target price on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Finally, Compass Point increased their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.23.

East West Bancorp Price Performance

EWBC opened at $102.93 on Friday. East West Bancorp has a 1 year low of $67.27 and a 1 year high of $113.95. The company’s 50 day simple moving average is $101.30 and its 200 day simple moving average is $91.05. The stock has a market capitalization of $14.27 billion, a PE ratio of 13.00, a P/E/G ratio of 2.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same quarter last year, the business earned $2.02 EPS. As a group, sell-side analysts expect that East West Bancorp will post 8.38 EPS for the current year.

Insider Buying and Selling

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the sale, the director now directly owns 17,750 shares in the company, valued at $1,740,210. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the transaction, the insider now owns 117,193 shares of the company’s stock, valued at approximately $11,543,510.50. This trade represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,969 shares of company stock valued at $2,458,276 in the last quarter. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its stake in East West Bancorp by 7.4% in the third quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 106 shares in the last quarter. Lindenwold Advisors INC increased its holdings in shares of East West Bancorp by 1.8% in the 3rd quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 129 shares during the last quarter. Blue Trust Inc. raised its position in shares of East West Bancorp by 3.8% during the 4th quarter. Blue Trust Inc. now owns 3,583 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 132 shares in the last quarter. US Bancorp DE lifted its stake in East West Bancorp by 7.8% during the third quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 141 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in East West Bancorp by 1.2% in the fourth quarter. 180 Wealth Advisors LLC now owns 11,617 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 143 shares during the period. Institutional investors own 89.53% of the company’s stock.

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