East West Bancorp (NASDAQ:EWBC) PT Raised to $108.00 at Barclays

East West Bancorp (NASDAQ:EWBC) had its price target boosted by analysts at Barclays from $105.00 to $108.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 32.47% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson lifted their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group dropped their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley upped their target price on East West Bancorp from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Truist Financial reduced their price target on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.53.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $81.53 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 52 week low of $49.59 and a 52 week high of $89.75. The firm has a fifty day simple moving average of $81.50 and a two-hundred day simple moving average of $77.04. The stock has a market capitalization of $11.34 billion, a P/E ratio of 10.27, a PEG ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. During the same period last year, the company earned $2.20 earnings per share. East West Bancorp’s revenue was down .9% on a year-over-year basis. On average, analysts expect that East West Bancorp will post 8.17 earnings per share for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In other news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares in the company, valued at $1,392,713.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gary Teo sold 3,450 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. The disclosure for this sale can be found here. Insiders have sold a total of 13,346 shares of company stock valued at $1,108,160 over the last ninety days. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EWBC. Capital Research Global Investors purchased a new position in shares of East West Bancorp during the 1st quarter worth approximately $338,142,000. Jupiter Asset Management Ltd. purchased a new stake in East West Bancorp during the 2nd quarter worth about $59,460,000. Lord Abbett & CO. LLC boosted its position in shares of East West Bancorp by 112.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after acquiring an additional 762,958 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of East West Bancorp by 82.2% in the 1st quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after acquiring an additional 761,347 shares during the last quarter. Finally, Miller Howard Investments Inc. NY acquired a new stake in shares of East West Bancorp during the 1st quarter worth about $39,347,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.