East West Bancorp (NASDAQ:EWBC) Given New $100.00 Price Target at Wells Fargo & Company

East West Bancorp (NASDAQ:EWBC) had its price target dropped by equities researchers at Wells Fargo & Company from $120.00 to $100.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 40.51% from the stock’s current price.

Several other brokerages also recently commented on EWBC. Morgan Stanley downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $118.00 to $90.00 in a research note on Monday. Piper Sandler dropped their price objective on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. DA Davidson dropped their price target on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, UBS Group assumed coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $106.46.

East West Bancorp Trading Down 7.8 %

Shares of NASDAQ EWBC opened at $71.17 on Wednesday. The company has a market cap of $9.85 billion, a PE ratio of 8.54, a P/E/G ratio of 1.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The firm’s 50 day moving average price is $89.96 and its 200-day moving average price is $95.12. East West Bancorp has a 52-week low of $68.27 and a 52-week high of $113.95.

Insider Transactions at East West Bancorp

In related news, CEO Dominic Ng sold 20,181 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the completion of the transaction, the chief executive officer now directly owns 988,133 shares in the company, valued at approximately $88,941,851.33. The trade was a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack C. Liu sold 725 shares of the firm’s 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 sale, the director now owns 15,832 shares in the company, valued at approximately $1,654,444. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,181 shares of company stock worth $5,625,732 in the last three months. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in East West Bancorp by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,197,068 shares of the financial services provider’s stock worth $1,359,511,000 after purchasing an additional 70,503 shares during the period. FMR LLC boosted its position in shares of East West Bancorp by 1.4% during the fourth quarter. FMR LLC now owns 7,990,468 shares of the financial services provider’s stock worth $765,167,000 after acquiring an additional 107,665 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in East West Bancorp by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,418,840 shares of the financial services provider’s stock valued at $423,148,000 after acquiring an additional 186,887 shares in the last quarter. Invesco Ltd. increased its holdings in East West Bancorp by 17.0% in the 4th quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider’s stock valued at $289,052,000 after acquiring an additional 437,676 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in East West Bancorp by 6.9% in the 4th quarter. Schroder Investment Management Group now owns 2,831,862 shares of the financial services provider’s stock worth $272,652,000 after purchasing an additional 183,675 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

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.