East West Bancorp (NASDAQ:EWBC) Given New $118.00 Price Target at Morgan Stanley

East West Bancorp (NASDAQ:EWBC) had its price target dropped by equities research analysts at Morgan Stanley from $127.00 to $118.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 34.14% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Stephens lowered shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised their price objective on shares of East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays cut their price objective on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, UBS Group began coverage on shares of East West Bancorp in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price objective for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.31.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $87.97 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.18 billion, a PE ratio of 10.56, a P/E/G ratio of 1.29 and a beta of 1.28. East West Bancorp has a twelve month low of $68.78 and a twelve month high of $113.95. The company has a 50-day moving average price of $96.66 and a two-hundred day moving average price of $94.71.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of East West Bancorp stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the transaction, the chief executive officer now directly owns 988,133 shares of the company’s stock, valued at approximately $88,941,851.33. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 725 shares of East West Bancorp stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total transaction of $75,762.50. Following the transaction, the director now directly owns 15,832 shares in the company, valued at $1,654,444. This trade represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,362 shares of company stock worth $3,842,022 over the last three months. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of East West Bancorp in the third quarter worth $26,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of East West Bancorp in the fourth quarter worth $26,000. Venturi Wealth Management LLC increased its stake in shares of East West Bancorp by 73.2% in the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after buying an additional 175 shares during the period. Farther Finance Advisors LLC increased its stake in shares of East West Bancorp by 119.1% in the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock worth $54,000 after buying an additional 306 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of East West Bancorp by 83.4% in the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock worth $63,000 after buying an additional 301 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.