SunTrust Banks Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $260.00
East West Bancorp (NASDAQ:EWBC) had its price target boosted by analysts at SunTrust Banks from $220.00 to $260.00 in a research report issued on Tuesday, The Fly reports.
Several other research firms also recently commented on EWBC. Keefe, Bruyette & Woods downgraded East West Bancorp from an “outperform” rating to a “market perform” rating and set a $34.00 price objective on the stock. in a research note on Wednesday, April 1st. ValuEngine cut East West Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 25th. UBS Group upped their price target on shares of East West Bancorp from $24.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Morgan Stanley upped their price objective on East West Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Finally, BidaskClub cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $64.44.
Shares of NASDAQ:EWBC traded up $1.05 during trading on Tuesday, reaching $36.31. 15,585 shares of the stock traded hands, compared to its average volume of 1,376,393. East West Bancorp has a 52-week low of $22.55 and a 52-week high of $51.88. The stock has a market cap of $4.99 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.93 and a beta of 2.00. The stock has a 50-day moving average of $36.04 and a two-hundred day moving average of $38.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.99 and a current ratio of 0.99.
Large investors have recently added to or reduced their stakes in the stock. Arden Trust Co purchased a new position in shares of East West Bancorp in the 1st quarter valued at about $38,000. Private Capital Group LLC lifted its position in East West Bancorp by 39.1% during the first quarter. Private Capital Group LLC now owns 2,160 shares of the financial services provider’s stock worth $56,000 after buying an additional 607 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in East West Bancorp during the fourth quarter worth about $57,000. Smithfield Trust Co. increased its stake in East West Bancorp by 2,775.0% during the first quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,220 shares during the last quarter. Finally, Pendal Group Ltd increased its stake in East West Bancorp by 65.7% during the first quarter. Pendal Group Ltd now owns 3,062 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 1,214 shares during the last quarter. 88.95% of the stock is owned by institutional investors.
About East West Bancorp
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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