East West Bancorp (NASDAQ:EWBC – Get Free Report) had its price target upped by research analysts at Truist Financial from $128.00 to $136.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 3.53% from the company’s current price.
Several other analysts also recently weighed in on the company. Citigroup boosted their price objective on East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. DA Davidson lifted their target price on shares of East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Morgan Stanley upped their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. UBS Group increased their price target on shares of East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen raised their price target on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.00.
Read Our Latest Analysis on East West Bancorp
East West Bancorp Trading Up 0.3%
East West Bancorp (NASDAQ:EWBC – Get Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.11. The company had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.East West Bancorp’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 EPS. As a group, equities analysts anticipate that East West Bancorp will post 10.57 EPS for the current fiscal year.
Insider Buying and Selling at East West Bancorp
In other news, Director Archana Deskus sold 1,800 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the sale, the director owned 13,231 shares of the company’s stock, valued at $1,661,152.05. The trade was a 11.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the sale, the insider directly owned 46,974 shares of the company’s stock, valued at approximately $5,801,289. The trade was a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 54,311 shares of company stock worth $6,784,711. 0.94% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Marathon Mission Inc. boosted its position in shares of East West Bancorp by 3.8% during the second quarter. Marathon Mission Inc. now owns 2,566 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 93 shares during the last quarter. Quarry LP increased its holdings in East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 102 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in East West Bancorp by 1.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock valued at $604,000 after acquiring an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in East West Bancorp by 1.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 102 shares in the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in East West Bancorp by 1.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
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