East West Bancorp (EWBC) Rating Increased to Hold at BidaskClub

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.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The company had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same period last year, the company posted $0.76 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. research analysts predict that East West Bancorp will post 3.5 EPS for the current fiscal year.

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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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