East West Bancorp (NASDAQ:EWBC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

EWBC has been the subject of several other research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a research note on Tuesday, September 26th. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. BMO Capital Markets reiterated a “hold” rating and issued a $61.00 price objective on shares of East West Bancorp in a report on Thursday, October 5th. DA Davidson reiterated a “hold” rating and issued a $63.00 price objective on shares of East West Bancorp in a report on Friday, October 20th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.25.

Shares of East West Bancorp (EWBC) traded up $0.18 during trading on Thursday, hitting $67.32. The company had a trading volume of 1,114,100 shares, compared to its average volume of 968,778. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. East West Bancorp has a 1 year low of $48.07 and a 1 year high of $67.61. The stock has a market cap 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 announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. During the same quarter in the previous year, the business earned $0.76 EPS. East West Bancorp’s revenue for the quarter was up 15.0% compared to the same quarter last year. sell-side analysts anticipate that East West Bancorp will post 3.5 earnings per share for the current fiscal year.

In other news, Director Jack C. Liu sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the transaction, the director now directly owns 23,599 shares in the company, valued at approximately $1,370,393.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following 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. Over the last quarter, insiders sold 17,200 shares of company stock worth $1,044,054. 0.88% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of EWBC. Keybank National Association OH acquired a new position in shares of East West Bancorp during the 2nd quarter worth approximately $211,000. Tredje AP fonden acquired a new stake in East West Bancorp during the second quarter worth approximately $299,000. CIBC World Markets Inc. acquired a new stake in East West Bancorp during the second quarter worth approximately $235,000. Wells Fargo & Company MN boosted its position in East West Bancorp by 5.9% during the second quarter. Wells Fargo & Company MN now owns 188,792 shares of the financial services provider’s stock worth $11,060,000 after acquiring an additional 10,505 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of East West Bancorp by 1.7% in the 2nd quarter. Alliancebernstein L.P. now owns 104,294 shares of the financial services provider’s stock valued at $6,110,000 after purchasing an additional 1,705 shares during the last quarter. Institutional investors and hedge funds own 91.38% of the company’s stock.

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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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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