East West Bancorp (EWBC) Upgraded to Hold by BidaskClub
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.
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.
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