Zacks Investment Research upgraded shares of East West Bancorp Inc. (NASDAQ:EWBC) from a sell rating to a hold rating in a report published on Wednesday.

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. “

Other research analysts also recently issued reports about the stock. Macquarie upgraded shares of East West Bancorp from a neutral rating to an outperform rating in a research report on Friday, July 22nd. Barclays PLC boosted their target price on shares of East West Bancorp from $41.00 to $45.00 and gave the company an overweight rating in a research report on Tuesday. BMO Capital Markets reissued a buy rating and set a $41.00 target price on shares of East West Bancorp in a research note on Friday, July 22nd. Finally, Deutsche Bank AG boosted their target price on shares of East West Bancorp from $40.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. East West Bancorp has an average rating of Buy and a consensus target price of $43.43.

Shares of East West Bancorp (NASDAQ:EWBC) traded down 3.3967% on Wednesday, hitting $38.0617. 90,083 shares of the company were exchanged. East West Bancorp has a 52-week low of $27.25 and a 52-week high of $43.94. The stock has a market capitalization of $5.48 billion, a PE ratio of 13.9420 and a beta of 1.55. The firm’s 50-day moving average is $36.78 and its 200-day moving average is $35.72.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results 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 quarter in the prior year, the firm earned $0.68 earnings per share. Equities research analysts predict that East West Bancorp will post $2.85 earnings per share for the current year.

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

A number of institutional investors have recently made changes to their positions in EWBC. Lord Abbett & CO. LLC increased its stake 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 worth $175,419,000 after buying an additional 1,013,941 shares during the last quarter. Renaissance Technologies LLC bought a new stake in East West Bancorp during the first quarter worth about $20,704,000. Handelsbanken Fonder AB raised its stake in 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 worth $31,616,000 after buying an additional 525,000 shares during the period. Vanguard Group Inc. raised its stake in 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 worth $359,016,000 after buying an additional 476,005 shares during the period. Finally, State Street Corp raised its stake in East West Bancorp by 8.0% in the first quarter. State Street Corp now owns 6,222,360 shares of the financial services provider’s stock worth $202,098,000 after buying an additional 461,946 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

About East West Bancorp

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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