East West Bancorp Inc. (NASDAQ:EWBC) had its price target raised by equities researchers at Barclays PLC from $41.00 to $45.00 in a report issued on Tuesday. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s target price would indicate a potential upside of 14.42% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 3rd. Macquarie upgraded shares of East West Bancorp from a “neutral” rating to an “outperform” rating in a report on Friday, July 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $41.00 price objective on shares of East West Bancorp in a report on Friday, July 22nd. Finally, Deutsche Bank AG raised their price objective on shares of East West Bancorp from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. East West Bancorp presently has a consensus rating of “Buy” and a consensus target price of $43.43.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Shares of East West Bancorp (NASDAQ:EWBC) traded down 0.94% on Tuesday, reaching $38.96. 629,223 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $36.52 and its 200-day moving average price is $35.67. East West Bancorp has a 52-week low of $27.25 and a 52-week high of $43.94. The stock has a market cap of $5.61 billion, a P/E ratio of 14.27 and a beta of 1.55.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. East West Bancorp had a net margin of 31.15% and a return on equity of 12.49%. During the same period last year, the firm posted $0.68 earnings per share. Equities analysts forecast that East West Bancorp will post $2.85 EPS for the current fiscal year.

In related news, Director Jack C. Liu sold 2,101 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $37.35, for a total value of $78,472.35. Following the transaction, the director now directly owns 29,006 shares in the company, valued at approximately $1,083,374.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rudolph Estrada sold 2,888 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $34.62, for a total value of $99,982.56. Following the completion of the transaction, the director now owns 15,261 shares in the company, valued at $528,335.82. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of East West Bancorp by 25.5% in the first quarter. JPMorgan Chase & Co. now owns 6,422,821 shares of the financial services provider’s stock worth $208,612,000 after buying an additional 1,306,783 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of East West Bancorp by 24.6% in the second quarter. Lord Abbett & CO. LLC now owns 5,132,227 shares of the financial services provider’s stock valued at $175,419,000 after buying an additional 1,013,941 shares during the period. Renaissance Technologies LLC bought a new position in shares of East West Bancorp during the first quarter valued at $20,704,000. Handelsbanken Fonder AB boosted its position in shares of East West Bancorp by 131.3% in the second quarter. Handelsbanken Fonder AB now owns 925,000 shares of the financial services provider’s stock valued at $31,616,000 after buying an additional 525,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of East West Bancorp by 4.7% in the second quarter. Vanguard Group Inc. now owns 10,503,670 shares of the financial services provider’s stock valued at $359,016,000 after buying an additional 476,005 shares during the period. Institutional investors own 85.58% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc (East West) 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 operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.

5 Day Chart for NASDAQ:EWBC

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