East West Bancorp (NASDAQ:EWBC) Price Target Raised to $125.00

East West Bancorp (NASDAQ:EWBC) had its price target increased by investment analysts at Compass Point from $110.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Compass Point’s target price would indicate a potential upside of 22.02% from the company’s previous close.

A number of other research firms also recently issued reports on EWBC. DA Davidson boosted their price target on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Piper Sandler boosted their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Citigroup boosted their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.17.

East West Bancorp Trading Down 0.4 %

EWBC stock traded down $0.40 during trading on Tuesday, reaching $102.44. 22,938 shares of the stock traded hands, compared to its average volume of 917,581. The business’s 50 day moving average price is $98.19 and its 200-day moving average price is $84.98. East West Bancorp has a 52-week low of $67.03 and a 52-week high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $14.20 billion, a PE ratio of 12.93, a P/E/G ratio of 3.06 and a beta of 1.28.

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

Insider Activity

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares of the company’s stock, valued at approximately $4,840,413.83. This represents a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 17,750 shares in the company, valued at $1,740,210. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,969 shares of company stock worth $2,458,276 over the last quarter. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Hedge funds have recently modified their holdings of the stock. Jupiter Asset Management Ltd. acquired a new position in East West Bancorp during the second quarter worth $59,460,000. Millennium Management LLC increased its position in East West Bancorp by 152.1% during the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after buying an additional 225,799 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in East West Bancorp by 30.6% during the second quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock worth $47,578,000 after buying an additional 152,334 shares during the last quarter. Westfield Capital Management Co. LP increased its position in East West Bancorp by 39.9% during the third quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock worth $43,079,000 after buying an additional 148,530 shares during the last quarter. Finally, FMR LLC increased its position in East West Bancorp by 1.8% during the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after buying an additional 136,528 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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.