East West Bancorp (NASDAQ:EWBC) Raised to “Hold” at Wall Street Zen

East West Bancorp (NASDAQ:EWBCGet Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on EWBC. Barclays increased their target price on shares of East West Bancorp from $142.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of East West Bancorp in a research note on Friday, July 10th. DA Davidson increased their price objective 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. Wells Fargo & Company raised their target price on shares of East West Bancorp from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Truist Financial raised their target price on shares of East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus target price of $140.23.

Get Our Latest Stock Report on EWBC

East West Bancorp Price Performance

Shares of EWBC opened at $131.00 on Friday. The stock has a 50 day moving average price of $129.01 and a 200 day moving average price of $120.03. East West Bancorp has a one year low of $92.67 and a one year high of $136.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.52 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The company had revenue of $791.14 million for the quarter, compared to analyst estimates of $784.47 million. During the same quarter last year, the firm posted $2.24 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts forecast that East West Bancorp will post 10.59 earnings per share for the current fiscal year.

Insider Activity at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider directly owned 84,698 shares of the company’s stock, valued at $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 46,974 shares in the company, valued at $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 52,511 shares of company stock valued at $6,558,721. 0.94% of the stock is owned by company insiders.

Institutional Trading of East West Bancorp

Several institutional investors have recently made changes to their positions in EWBC. Geneos Wealth Management Inc. grew its position in East West Bancorp by 66.9% in the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 321 shares during the period. Sivia Capital Partners LLC purchased a new stake in East West Bancorp in the second quarter valued at $274,000. Baird Financial Group Inc. purchased a new stake in East West Bancorp in the second quarter valued at $290,000. Marshall Wace LLP raised its position in East West Bancorp by 34.3% in the second quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 823 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of East West Bancorp by 118.7% in the 2nd quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider’s stock valued at $3,568,000 after purchasing an additional 19,178 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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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