East West Bancorp (NASDAQ:EWBC) Price Target Increased to $92.00 by Analysts at Piper Sandler

East West Bancorp (NASDAQ:EWBC) had its price target upped by Piper Sandler from $72.50 to $92.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 5.73% from the company’s current price.

A number of other research analysts have also commented on EWBC. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price objective on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Truist Financial lowered their target price on East West Bancorp from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Jefferies Financial Group cut their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Stephens lifted their price objective on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.60.

East West Bancorp Stock Up 3.1 %

Shares of NASDAQ EWBC opened at $87.01 on Wednesday. The stock has a market cap of $12.11 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 5.04 and a beta of 1.32. East West Bancorp has a 52-week low of $49.59 and a 52-week high of $88.16. The business has a 50-day moving average price of $74.31 and a 200 day moving average price of $74.21. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.10. The business had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a return on equity of 16.85% and a net margin of 25.40%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. Equities research analysts forecast that East West Bancorp will post 8.02 earnings per share for the current year.

Insider Buying and Selling at East West Bancorp

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of East West Bancorp in the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. acquired a new position in East West Bancorp in the 1st quarter valued at $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp during the 4th quarter worth $29,000. Rise Advisors LLC acquired a new stake in shares of East West Bancorp during the first quarter worth $30,000. Finally, Mather Group LLC. acquired a new stake in shares of East West Bancorp during the first quarter worth $35,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.