BidaskClub upgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a hold rating in a research report released on Thursday.
Several other analysts also recently weighed in on EWBC. Zacks Investment Research upgraded East West Bancorp from a hold rating to a buy rating and set a $63.00 target price for the company in a research note on Thursday, September 14th. Keefe, Bruyette & Woods restated a hold rating and set a $57.00 target price on shares of East West Bancorp in a research note on Tuesday, September 26th. Morgan Stanley restated an equal weight rating and set a $63.00 target price (up from $61.00) on shares of East West Bancorp in a research note on Wednesday, October 4th. BMO Capital Markets restated a hold rating and set a $61.00 target price on shares of East West Bancorp in a research note on Thursday, October 5th. Finally, Raymond James Financial upgraded East West Bancorp from an underperform rating to a market perform rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $67.25.
East West Bancorp (NASDAQ:EWBC) traded up $0.18 during trading hours on Thursday, reaching $67.32. The company’s stock had a trading volume of 1,114,100 shares, compared to its average volume of 968,778. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. East West Bancorp has a one year low of $48.07 and a one year high of $67.61. The stock has a market capitalization of $9,730.00, a price-to-earnings ratio of 18.44, a PEG ratio of 1.51 and a beta of 1.46.
In related news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the director now directly owns 40,130 shares in the company, valued at $2,447,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the completion of the transaction, the director now owns 23,599 shares of the company’s stock, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders have sold 17,200 shares of company stock valued at $1,044,054 over the last 90 days. Insiders own 0.88% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank acquired a new position in East West Bancorp in the second quarter worth about $104,000. San Francisco Sentry Investment Group CA acquired a new position in East West Bancorp in the second quarter worth about $138,000. D.A. Davidson & CO. grew its stake in East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 26 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in East West Bancorp in the second quarter worth about $149,000. Finally, Keybank National Association OH acquired a new position in East West Bancorp in the second quarter worth about $211,000. Institutional investors and hedge funds own 91.38% of the company’s stock.
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East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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