East West Bancorp (NASDAQ:EWBC) Raised to Hold at StockNews.com

East West Bancorp (NASDAQ:EWBC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other equities research analysts have also recently issued reports on EWBC. DA Davidson lowered their target price on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. UBS Group assumed coverage on shares of East West Bancorp in a research note on Tuesday, December 17th. They set a “neutral” rating and a $112.00 target price on the stock. Piper Sandler lowered their target price on shares of East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Barclays lowered their target price on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.38.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC traded down $0.04 during midday trading on Tuesday, reaching $84.35. 1,420,358 shares of the company’s stock traded hands, compared to its average volume of 858,660. The company has a fifty day simple moving average of $97.21 and a two-hundred day simple moving average of $94.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The company has a market cap of $11.68 billion, a P/E ratio of 10.13, a PEG ratio of 1.29 and a beta of 1.28. East West Bancorp has a 1 year low of $68.78 and a 1 year high of $113.95.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 725 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total transaction of $75,762.50. Following the sale, the director now directly owns 15,832 shares in the company, valued at $1,654,444. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dominic Ng sold 20,181 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the sale, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,362 shares of company stock worth $3,842,022. Company insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of East West Bancorp during the third quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of East West Bancorp during the third quarter worth about $26,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of East West Bancorp during the fourth quarter worth about $26,000. Venturi Wealth Management LLC grew its position in shares of East West Bancorp by 73.2% during the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after buying an additional 175 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of East West Bancorp by 119.1% during the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock worth $54,000 after buying an additional 306 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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.