East West Bancorp, Inc. (EWBC) Upgraded at Raymond James Financial, Inc.
East West Bancorp, Inc. (NASDAQ:EWBC) was upgraded by Raymond James Financial, Inc. from an “underperform” rating to a “market perform” rating in a note issued to investors on Thursday.
EWBC has been the topic of a number of other research reports. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Thursday, August 31st. Deutsche Bank AG lowered East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research note on Friday, July 14th. BidaskClub lowered East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Wedbush reiterated an “outperform” rating and issued a $68.00 target price on shares of East West Bancorp in a research note on Thursday, July 20th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $57.00 target price on shares of East West Bancorp in a research note on Friday, June 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. East West Bancorp currently has an average rating of “Hold” and a consensus price target of $63.13.
East West Bancorp (EWBC) opened at 58.72 on Thursday. East West Bancorp has a 52 week low of $37.75 and a 52 week high of $60.74. The company has a 50 day moving average of $56.26 and a 200 day moving average of $55.65. The stock has a market capitalization of $8.48 billion, a P/E ratio of 16.77 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The business had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same quarter last year, the firm posted $0.71 earnings per share. Equities analysts expect that East West Bancorp will post $3.71 EPS for the current fiscal year.
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In related news, Director Rudolph Estrada sold 1,916 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its holdings in East West Bancorp by 24.6% in the first quarter. US Bancorp DE now owns 9,873 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 1,949 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in East West Bancorp by 19.0% in the first quarter. UBS Asset Management Americas Inc. now owns 87,556 shares of the financial services provider’s stock worth $4,519,000 after acquiring an additional 13,968 shares in the last quarter. Oxford Asset Management acquired a new stake in East West Bancorp in the first quarter worth about $602,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in East West Bancorp in the first quarter worth about $1,251,000. Finally, Cadence Capital Management LLC boosted its holdings in East West Bancorp by 8.1% in the first quarter. Cadence Capital Management LLC now owns 5,799 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 434 shares in the last quarter. 90.48% of the stock is currently owned by institutional investors.
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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