Cantor Fitzgerald Reiterates “Overweight” Rating for East West Bancorp (NASDAQ:EWBC)

East West Bancorp (NASDAQ:EWBCGet Free Report)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $150.00 target price on the financial services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 12.44% from the stock’s current price.

A number of other research firms have also weighed in on EWBC. Piper Sandler boosted their target price on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of East West Bancorp in a report on Friday, July 10th. TD Cowen increased their target price 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. Truist Financial boosted their price target on East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, Wall Street Zen lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.31.

Get Our Latest Research Report on EWBC

East West Bancorp Stock Down 0.4%

Shares of EWBC opened at $133.40 on Wednesday. East West Bancorp has a 1 year low of $92.67 and a 1 year high of $136.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $127.49 and a two-hundred day simple moving average of $119.21. The firm has a market cap of $18.28 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.54 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping the consensus estimate of $2.61 by $0.02. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm had revenue of $791.14 million for the quarter, compared to the consensus estimate of $784.47 million. During the same period last year, the firm posted $2.24 earnings per share. On average, analysts forecast that East West Bancorp will post 10.56 earnings per share for the current fiscal year.

Insider Transactions at East West Bancorp

In related news, insider Irene H. Oh sold 11,211 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the sale, the insider directly owned 85,998 shares of the company’s stock, valued at $11,093,742. This represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total value of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares of the company’s stock, valued at $5,801,289. This represents a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 54,311 shares of company stock worth $6,784,711. 0.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On East West Bancorp

Several large investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp purchased a new stake in shares of East West Bancorp in the 4th quarter worth approximately $31,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the third quarter worth $31,000. Signaturefd LLC grew its stake in shares of East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 113 shares in the last quarter. Finally, Quarry LP raised its position in shares of East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 102 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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About East West Bancorp

(Get Free Report)

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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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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