East West Bancorp (NASDAQ:EWBC) Given New $120.00 Price Target at Barclays

East West Bancorp (NASDAQ:EWBC) had its price target cut by research analysts at Barclays from $125.00 to $120.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 17.76% from the company’s current price.

EWBC has been the subject of several other research reports. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Stephens lowered East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Truist Financial boosted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Compass Point boosted their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.23.

East West Bancorp Price Performance

NASDAQ:EWBC opened at $101.90 on Friday. The company has a market capitalization of $14.13 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.85 and a beta of 1.30. The business’s 50-day moving average is $101.31 and its 200 day moving average is $90.73. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp has a 12 month low of $67.27 and a 12 month high of $113.95.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $2.02 EPS. On average, equities research analysts forecast that East West Bancorp will post 8.38 earnings per share for the current fiscal year.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total transaction of $147,975.00. Following the transaction, the director now owns 10,639 shares of the company’s stock, valued at $1,049,537.35. The trade was a 12.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the transaction, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in East West Bancorp during the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp in the third quarter valued at $26,000. UMB Bank n.a. boosted its stake in shares of East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares during the last quarter. Tobam boosted its stake in shares of East West Bancorp by 131.7% during the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 274 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of East West Bancorp during the third quarter worth about $79,000. 89.53% of the stock is currently 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.