East West Bancorp, Inc. (NASDAQ:EWBC) Rating Lowered to Hold at Zacks Investment Research

East West Bancorp, Inc. (NASDAQ:EWBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, October 25th.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

A number of other analysts also recently commented on the company. Piper Jaffray Companies set a $74.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Saturday, October 21st. BMO Capital Markets increased their price target on East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Barclays PLC set a $66.00 price objective on shares of East West Bancorp and gave the company a “buy” rating in a research report on Friday, October 20th. Wedbush reaffirmed an “outperform” rating and set a $66.00 price target (down previously from $68.00) on shares of East West Bancorp in a research report on Friday, October 20th. Finally, DA Davidson reissued a “hold” rating and issued a $63.00 target price on shares of East West Bancorp in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.60.

East West Bancorp (EWBC) opened at $57.03 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. East West Bancorp has a 52-week low of $45.26 and a 52-week high of $61.90. The stock has a market capitalization of $8,189.80, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.54 and a beta of 1.47.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. The business had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. sell-side analysts forecast that East West Bancorp will post 3.49 earnings per share for the current fiscal year.

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In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the transaction, the director now directly owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the transaction, the director now owns 40,130 shares in the company, valued at $2,447,930. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in EWBC. BlackRock Inc. raised its stake in shares of East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares during the last quarter. State Street Corp raised its stake in shares of East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after acquiring an additional 1,004,860 shares during the last quarter. Boston Partners raised its stake in shares of East West Bancorp by 0.8% in the third quarter. Boston Partners now owns 6,619,308 shares of the financial services provider’s stock worth $395,702,000 after acquiring an additional 50,476 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of East West Bancorp by 4.2% in the third quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock worth $265,465,000 after acquiring an additional 178,496 shares during the last quarter. Hedge funds and other institutional investors own 90.58% of the company’s stock.

About East West Bancorp

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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