East West Bancorp (NASDAQ:EWBC) PT Lowered to $86.00

East West Bancorp (NASDAQ:EWBC) had its price objective reduced by Truist Financial from $90.00 to $86.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 13.19% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 8th. Compass Point upped their price target on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Barclays initiated coverage on East West Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target for the company. Citigroup upped their price target on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods upped their price target on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.08.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $75.98 on Thursday. The stock has a market cap of $10.57 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. The business has a 50-day simple moving average of $74.84 and a 200-day simple moving average of $68.57. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. East West Bancorp has a 52-week low of $41.12 and a 52-week high of $79.54.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08. The business had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 EPS. On average, equities analysts expect that East West Bancorp will post 7.99 EPS for the current year.

Insiders Place Their Bets

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares of the company’s stock, valued at $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On East West Bancorp

A number of large investors have recently made changes to their positions in EWBC. CWM LLC grew its position in shares of East West Bancorp by 22.8% in the third quarter. CWM LLC now owns 1,825 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 339 shares in the last quarter. Palouse Capital Management Inc. lifted its holdings in East West Bancorp by 21.2% in the third quarter. Palouse Capital Management Inc. now owns 27,422 shares of the financial services provider’s stock valued at $1,445,000 after acquiring an additional 4,795 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in East West Bancorp by 17.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,042 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 759 shares during the last quarter. JB Capital LLC acquired a new position in East West Bancorp in the third quarter valued at approximately $765,000. Finally, Keeler THomas Management LLC lifted its holdings in East West Bancorp by 5.9% in the third quarter. Keeler THomas Management LLC now owns 74,362 shares of the financial services provider’s stock valued at $3,977,000 after acquiring an additional 4,162 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.