East West Bancorp (NASDAQ:EWBC) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald started coverage on shares of East West Bancorp (NASDAQ:EWBC) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating on the financial services provider’s stock.

EWBC has been the subject of a number of other reports. DA Davidson boosted their price target on shares of East West Bancorp from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Truist Financial upped their target price on shares of East West Bancorp from $102.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, July 11th. Wells Fargo & Company upped their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.64.

East West Bancorp Trading Down 0.2%

EWBC opened at $107.99 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. The firm has a 50 day simple moving average of $104.61 and a 200 day simple moving average of $94.41. East West Bancorp has a fifty-two week low of $68.27 and a fifty-two week high of $113.95.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.05. The business had revenue of $705.00 million during the quarter, compared to the consensus estimate of $702.04 million. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. East West Bancorp’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 earnings per share. On average, sell-side analysts anticipate that East West Bancorp will post 8.85 earnings per share for the current year.

Insider Buying and Selling at East West Bancorp

In related news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 14,974 shares in the company, valued at approximately $1,572,270. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the transaction, the chief executive officer owned 888,314 shares of the company’s stock, valued at $91,833,901.32. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,240 shares of company stock worth $7,379,678. Company insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EWBC. Beverly Hills Private Wealth LLC grew its position in shares of East West Bancorp by 4.9% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 2,630 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 122 shares during the period. Applied Finance Capital Management LLC lifted its stake in shares of East West Bancorp by 3.7% during the 1st quarter. Applied Finance Capital Management LLC now owns 3,444 shares of the financial services provider’s stock worth $309,000 after buying an additional 123 shares during the last quarter. MAI Capital Management lifted its stake in shares of East West Bancorp by 15.7% during the 2nd quarter. MAI Capital Management now owns 906 shares of the financial services provider’s stock worth $91,000 after buying an additional 123 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of East West Bancorp by 0.7% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 21,271 shares of the financial services provider’s stock worth $1,909,000 after buying an additional 139 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in shares of East West Bancorp by 2.6% during the 2nd quarter. Prospera Financial Services Inc now owns 5,903 shares of the financial services provider’s stock worth $596,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.