East West Bancorp (NASDAQ:EWBC) Stock Gets Price Target Increase from Morgan Stanley

East West Bancorp (NASDAQ:EWBC – Get Free Report) had its target price hoisted by stock analysts at Morgan Stanley from $160.00 to $164.00 in a note issued to investors on Monday, MarketBeat.com reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 30.66% from the company’s current price.

Several other equities analysts have also weighed in on EWBC. DA Davidson boosted their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Citigroup reduced their price target on shares of East West Bancorp from $156.00 to $152.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Barclays upped their price objective on East West Bancorp from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Truist Financial increased their price objective on East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Wall Street Zen raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $144.46.

View Our Latest Stock Report on EWBC

East West Bancorp Stock Down 0.9%

Shares of EWBC opened at $125.52 on Monday. East West Bancorp has a 52-week low of $92.67 and a 52-week high of $137.47. The company has a market capitalization of $17.20 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.42 and a beta of 0.93. The stock has a fifty day simple moving average of $130.03 and a two-hundred day simple moving average of $124.46. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33.

East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The firm had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. During the same quarter in the previous year, the company posted $2.24 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts forecast that East West Bancorp will post 10.63 EPS for the current year.

Insider Transactions at East West Bancorp

In related news, Director Jack Liu sold 1,000 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total value of $135,020.00. Following the completion of the sale, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Manuel Alvarez sold 810 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $130.40, for a total value of $105,624.00. Following the completion of the sale, the director directly owned 10,629 shares in the company, valued at approximately $1,386,021.60. The trade was a 7.08% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 11,810 shares of company stock worth $1,564,344. 0.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Solstein Capital LLC purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $27,000. Ancora Advisors LLC purchased a new position in East West Bancorp during the 2nd quarter valued at about $27,000. Fiduciary Financial Advisors purchased a new position in East West Bancorp during the 2nd quarter valued at about $35,000. Kelleher Financial Advisors acquired a new position in East West Bancorp in the 2nd quarter valued at about $37,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in East West Bancorp in the 2nd quarter valued at about $37,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Company Profile

(Get Free Report)

East West Bancorp, Inc is the parent company of East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the bank serves consumers, businesses, institutions and nonprofit organizations through a range of banking and financial services.

East West Bank offers deposit accounts, commercial and residential real estate lending, commercial and industrial loans, trade finance, treasury management, wealth management and other personal and business banking products.

Further Reading

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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