Analysts Set East West Bancorp, Inc. (NASDAQ:EWBC) Price Target at $109.77

East West Bancorp, Inc. (NASDAQ:EWBC) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $109.77.

EWBC has been the subject of a number of recent research reports. DA Davidson boosted their price target on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wedbush boosted their price target on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their price target on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares in the company, valued at $11,543,510.50. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the sale, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,969 shares of company stock worth $2,458,276. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB raised its stake in East West Bancorp by 108.5% during the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider’s stock valued at $5,282,000 after purchasing an additional 28,549 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of East West Bancorp during the 3rd quarter valued at about $4,157,000. Quest Partners LLC lifted its holdings in shares of East West Bancorp by 830,133.3% in the 3rd quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider’s stock valued at $2,061,000 after acquiring an additional 24,904 shares during the last quarter. Janney Montgomery Scott LLC grew its position in East West Bancorp by 159.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock worth $2,448,000 after acquiring an additional 18,166 shares in the last quarter. Finally, Jennison Associates LLC grew its position in East West Bancorp by 7.3% in the third quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock worth $149,287,000 after acquiring an additional 123,376 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $100.80 on Friday. East West Bancorp has a fifty-two week low of $67.27 and a fifty-two week high of $113.95. The business has a 50-day simple moving average of $101.39 and a two-hundred day simple moving average of $90.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter in the previous year, the firm earned $2.02 EPS. On average, analysts expect that East West Bancorp will post 8.38 earnings per share for the current year.

East West Bancorp Company Profile

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.