East West Bancorp (NASDAQ:EWBC) PT Lowered to $86.00

East West Bancorp (NASDAQ:EWBC) had its price objective dropped by equities researchers at Truist Financial from $90.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 13.19% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Stephens raised their target price on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Citigroup raised their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of East West Bancorp in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $84.08.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $75.98 on Thursday. East West Bancorp has a 1 year low of $41.12 and a 1 year high of $79.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.91. The company’s 50-day moving average is $74.84 and its 200 day moving average is $68.57. The stock has a market capitalization of $10.57 billion, a P/E ratio of 9.57, a P/E/G ratio of 0.96 and a beta of 1.39.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter in the previous year, the company earned $2.32 earnings per share. East West Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that East West Bancorp will post 7.99 earnings per share for the current year.

Insiders Place Their Bets

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the transaction, the director now owns 16,739 shares in the company, valued at $1,231,655.62. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after purchasing an additional 215,281 shares during the period. Capital International Investors raised its position in shares of East West Bancorp by 1.4% during 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 purchasing an additional 159,963 shares during the period. FMR LLC raised its position in shares of East West Bancorp by 3.8% during the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock valued at $443,635,000 after purchasing an additional 306,473 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of East West Bancorp by 30.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after purchasing an additional 751,944 shares during the period. Finally, Boston Partners raised its position in shares of East West Bancorp by 48.5% during the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after purchasing an additional 886,841 shares during the period. 89.53% of the stock is currently owned by 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.