East West Bancorp, Inc. (EWBC) Receives $65.22 Consensus PT from Analysts

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.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The company had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same period in the prior year, the firm earned $0.76 earnings per share. East West Bancorp’s revenue for the quarter was up 15.0% on a year-over-year basis. equities research analysts expect that East West Bancorp will post 3.49 EPS for the current fiscal year.

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.

COPYRIGHT VIOLATION WARNING: This piece was reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.com-unik.info/2017/12/24/east-west-bancorp-inc-ewbc-receives-65-22-consensus-pt-from-analysts.html.

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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit