Wells Fargo & Co reissued their outperform rating on shares of East West Bancorp (NASDAQ:EWBC) in a research note issued to investors on Tuesday, The Fly reports. Wells Fargo & Co currently has a $72.00 target price on the financial services provider’s stock, up from their previous target price of $65.00.

Several other research analysts have also commented on EWBC. Zacks Investment Research lowered East West Bancorp from a buy rating to a hold rating in a research report on Tuesday, September 12th. Keefe, Bruyette & Woods reissued a hold rating and issued a $57.00 price objective on shares of East West Bancorp in a research report on Tuesday, September 26th. Morgan Stanley reissued an equal weight rating and issued a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. BMO Capital Markets reissued a hold rating and issued a $61.00 price objective on shares of East West Bancorp in a research report on Thursday, October 5th. Finally, Raymond James Financial raised East West Bancorp from an underperform rating to a market perform rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $67.25.

Shares of East West Bancorp (EWBC) traded up $0.18 during trading on Tuesday, reaching $67.32. The company had a trading volume of 1,110,000 shares, compared to its average volume of 858,752. 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 52-week low of $48.07 and a 52-week high of $67.61. The firm has a market capitalization of $9,730.00, a PE ratio of 18.44, a P/E/G 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. analysts predict that East West Bancorp will post 3.5 EPS for the current fiscal year.

In other news, 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 transaction of $127,754.00. Following the sale, the director now directly owns 23,599 shares of the company’s stock, valued at $1,370,393.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 40,130 shares in the company, valued at $2,447,930. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,200 shares of company stock worth $1,044,054. Corporate insiders own 0.88% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in shares of East West Bancorp during the second quarter worth about $104,000. San Francisco Sentry Investment Group CA purchased a new stake in shares of East West Bancorp during the second quarter worth about $138,000. D.A. Davidson & CO. increased its position in shares of East West Bancorp by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 26 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of East West Bancorp during the second quarter worth about $149,000. Finally, Keybank National Association OH purchased a new stake in shares of East West Bancorp during the second quarter worth about $211,000. 91.37% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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