East West Bancorp (NASDAQ:EWBC) Cut to “Underperform” at Raymond James

Raymond James cut shares of East West Bancorp (NASDAQ:EWBC) from a market perform rating to an underperform rating in a research report report published on Tuesday, BenzingaRatingsTable reports.

A number of other research firms have also weighed in on EWBC. Morgan Stanley upgraded East West Bancorp from an equal weight rating to an overweight rating and reduced their price objective for the company from $59.00 to $57.00 in a research note on Monday, July 1st. ValuEngine upgraded East West Bancorp from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded East West Bancorp from a sell rating to a hold rating and set a $45.00 price objective for the company in a research note on Friday, October 4th. SunTrust Banks reduced their price objective on East West Bancorp from $55.00 to $54.00 and set a buy rating for the company in a research note on Thursday, October 3rd. Finally, BMO Capital Markets lowered East West Bancorp from an outperform rating to a market perform rating and reduced their price objective for the company from $51.00 to $44.00 in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. East West Bancorp has an average rating of Hold and a consensus target price of $53.17.

Shares of EWBC stock opened at $42.81 on Tuesday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.84 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average of $42.71 and a 200 day moving average of $45.75. East West Bancorp has a 1 year low of $37.69 and a 1 year high of $58.88.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.24 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.24. The business had revenue of $420.09 million during the quarter, compared to analyst estimates of $416.35 million. East West Bancorp had a return on equity of 15.42% and a net margin of 32.92%. During the same quarter last year, the business posted $1.18 EPS. As a group, equities research analysts expect that East West Bancorp will post 4.86 earnings per share for the current year.

In other East West Bancorp news, CFO Irene H. Oh bought 6,400 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $39.10 per share, for a total transaction of $250,240.00. Following the transaction, the chief financial officer now directly owns 59,589 shares of the company’s stock, valued at $2,329,929.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Catherine Zhou bought 2,512 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $39.82 per share, for a total transaction of $100,027.84. Following the completion of the transaction, the executive vice president now directly owns 2,512 shares in the company, valued at $100,027.84. The disclosure for this purchase can be found here. Insiders have bought a total of 38,052 shares of company stock worth $1,478,330 over the last 90 days. Insiders own 0.61% of the company’s stock.

Several large investors have recently bought and sold shares of EWBC. Advantage Investment Management LLC grew its position in shares of East West Bancorp by 64.1% during the 2nd quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 280 shares during the period. QCI Asset Management Inc. NY acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $37,000. FTB Advisors Inc. acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $44,000. Meeder Asset Management Inc. grew its position in shares of East West Bancorp by 1,042.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 960 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 876 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 88.39% 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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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