Barclays Cuts East West Bancorp (NASDAQ:EWBC) Price Target to $105.00

East West Bancorp (NASDAQ:EWBC) had its target price lowered by analysts at Barclays from $106.00 to $105.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 46.32% from the stock’s previous close.

A number of other research analysts have also commented on the company. Citigroup upped their price target on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods upped their price target on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Stephens upped their price target on East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their target price on East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Compass Point upped their target price on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

East West Bancorp Trading Down 1.5 %

NASDAQ EWBC opened at $71.76 on Monday. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $79.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $74.07 and a 200-day moving average of $73.46. The firm has a market cap of $9.98 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 3.64 and a beta of 1.33.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The company had revenue of $644.13 million during the quarter, compared to analyst estimates of $636.77 million. During the same quarter in the previous year, the company posted $2.32 EPS. East West Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that East West Bancorp will post 8.03 EPS for the current year.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the sale, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now directly owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in East West Bancorp by 30.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after purchasing an additional 751,944 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in East West Bancorp by 40,757.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock worth $7,437,000 after purchasing an additional 103,117 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in East West Bancorp by 193.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,005 shares of the financial services provider’s stock worth $1,224,000 after purchasing an additional 11,208 shares during the period. Federated Hermes Inc. raised its holdings in East West Bancorp by 5.0% in the 3rd quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 1,501 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in East West Bancorp by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 377,176 shares of the financial services provider’s stock worth $27,138,000 after purchasing an additional 46,416 shares during the period. 89.53% of the stock is owned by institutional investors.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.