A number of other analysts also recently issued reports on the company. BMO Capital Markets reiterated a “buy” rating and set a $63.00 price target on shares of East West Bancorp in a research report on Wednesday, March 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 price target (up previously from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Piper Jaffray Companies dropped their price target on East West Bancorp to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. East West Bancorp presently has an average rating of “Hold” and an average price target of $62.88.
East West Bancorp, Inc. (NASDAQ:EWBC)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Thursday, July 20th. They currently have a $68.00 price target on the financial services provider’s stock. Wedbush’s target price suggests a potential upside of 17.26% from the stock’s previous close. Wedbush also issued estimates for East West Bancorp’s Q3 2017 earnings at $0.86 EPS, Q4 2017 earnings at $0.89 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $0.98 EPS and Q4 2018 earnings at $1.02 EPS.
Shares of East West Bancorp (NASDAQ EWBC) traded down 1.543% on Thursday, reaching $57.095. The company’s stock had a trading volume of 385,567 shares. The stock has a market cap of $8.25 billion, a P/E ratio of 16.308 and a beta of 1.42. East West Bancorp has a 12 month low of $33.02 and a 12 month high of $60.42. The firm’s 50-day moving average price is $58.04 and its 200-day moving average price is $54.62.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.81. The firm had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. During the same quarter last year, the company posted $0.71 EPS. On average, analysts forecast that East West Bancorp will post $3.74 earnings per share for the current fiscal year.
In other East West Bancorp news, Director Molly Campbell sold 590 shares of East West Bancorp stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total value of $32,998.70. Following the transaction, the director now directly owns 3,903 shares of the company’s stock, valued at approximately $218,294.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Liu sold 1,123 shares of East West Bancorp stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the completion of the transaction, the director now directly owns 23,669 shares in the company, valued at $1,396,471. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,837 shares of company stock worth $106,257. 0.88% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of East West Bancorp during the second quarter worth approximately $110,000. Washington Trust Bank boosted its position in shares of East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock worth $123,000 after buying an additional 86 shares during the period. IFP Advisors Inc boosted its position in shares of East West Bancorp by 126.0% in the second quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock worth $167,000 after buying an additional 1,593 shares during the period. CENTRAL TRUST Co bought a new position in shares of East West Bancorp during the first quarter worth approximately $177,000. Finally, Quadrature Capital Ltd bought a new position in shares of East West Bancorp during the fourth quarter worth approximately $221,000. 87.59% of the stock is currently owned by institutional investors and hedge funds.
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.