East West Bancorp, Inc. (NASDAQ:EWBC) has been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $65.22.
EWBC has been the topic of a number of research reports. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $74.00 target price on East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. Wedbush reaffirmed an “outperform” rating and set a $66.00 target price (down from $68.00) on shares of East West Bancorp in a research report on Friday, October 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 target price (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $65.00 target price on shares of East West Bancorp in a research report on Thursday, October 12th.
Shares of East West Bancorp (EWBC) traded up $0.40 on Thursday, reaching $61.81. The company’s stock had a trading volume of 672,016 shares, compared to its average volume of 893,113. East West Bancorp has a 12-month low of $48.07 and a 12-month high of $63.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $8,876.38, a price-to-earnings ratio of 16.98, a PEG ratio of 1.67 and a beta of 1.46.
In related news, insider Douglas Paul Krause sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now owns 18,015 shares in the company, valued at $1,103,598.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the director now owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The disclosure for this sale can be found here. Insiders have sold 17,200 shares of company stock valued at $1,044,054 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. grew its holdings in East West Bancorp by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after buying an additional 26 shares in the last quarter. Cadence Capital Management LLC grew its holdings in East West Bancorp by 1.0% during the second quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock worth $343,000 after buying an additional 60 shares in the last quarter. Utah Retirement Systems grew its holdings in East West Bancorp by 0.4% during the second quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 100 shares in the last quarter. BlueMountain Capital Management LLC grew its holdings in East West Bancorp by 2.6% during the second quarter. BlueMountain Capital Management LLC now owns 5,480 shares of the financial services provider’s stock worth $321,000 after buying an additional 139 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in East West Bancorp by 2.1% in the 2nd quarter. Synovus Financial Corp now owns 7,702 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 91.37% of the company’s stock.
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East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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