East West Bancorp (NASDAQ:EWBC – Get Free Report) had its price objective lifted by stock analysts at Morgan Stanley from $103.00 to $106.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 32.43% from the company’s current price.
Several other brokerages also recently weighed in on EWBC. Jefferies Financial Group dropped their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. DA Davidson upped their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial lowered their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, September 20th. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler raised their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.87.
View Our Latest Stock Analysis on East West Bancorp
East West Bancorp Price Performance
East West Bancorp (NASDAQ:EWBC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.97 by $0.10. The firm had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. East West Bancorp’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. Research analysts anticipate that East West Bancorp will post 8.17 earnings per share for the current fiscal year.
Insider Buying and Selling
In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the transaction, the executive vice president now owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Teo sold 3,450 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,346 shares of company stock valued at $1,108,160. Corporate insiders own 1.04% of the company’s stock.
Institutional Trading of East West Bancorp
Several institutional investors have recently modified their holdings of EWBC. Capital International Investors lifted its stake in East West Bancorp by 1.4% in the 4th quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock valued at $833,469,000 after buying an additional 159,963 shares in the last quarter. Capital Research Global Investors purchased a new position in shares of East West Bancorp in the first quarter valued at approximately $338,142,000. Schroder Investment Management Group boosted its stake in shares of East West Bancorp by 3.0% in the fourth quarter. Schroder Investment Management Group now owns 2,462,062 shares of the financial services provider’s stock worth $177,145,000 after acquiring an additional 72,746 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of East West Bancorp by 16.4% during the first quarter. Principal Financial Group Inc. now owns 1,993,953 shares of the financial services provider’s stock worth $157,742,000 after purchasing an additional 280,680 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in East West Bancorp by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider’s stock valued at $133,480,000 after purchasing an additional 118,658 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.
About East West Bancorp
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.
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