East West Bancorp, Inc. (EWBC) Receives “Equal Weight” Rating from Morgan Stanley
Morgan Stanley reissued their equal weight rating on shares of East West Bancorp, Inc. (NASDAQ:EWBC) in a report published on Wednesday. They currently have a $63.00 price objective on the financial services provider’s stock, up from their previous price objective of $61.00.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered East West Bancorp from a buy rating to a hold rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $68.00 price target on East West Bancorp and gave the stock a buy rating in a research report on Saturday, June 17th. Wedbush reaffirmed an outperform rating and set a $68.00 price target on shares of East West Bancorp in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $57.00 price target on shares of East West Bancorp in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded East West Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $63.13.
East West Bancorp (NASDAQ:EWBC) traded up 1.58% during mid-day trading on Wednesday, reaching $59.65. The company’s stock had a trading volume of 580,400 shares. East West Bancorp has a one year low of $37.75 and a one year high of $60.74. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 17.04 and a beta of 1.46. The stock has a 50-day moving average price of $56.26 and a 200-day moving average price of $55.65.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The company had revenue of $337.49 million during the quarter, compared to analyst estimates 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 business posted $0.71 EPS. Equities research analysts forecast that East West Bancorp will post $3.71 EPS for the current year.
In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now directly owns 15,475 shares of the company’s stock, valued at approximately $866,135.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Toronto Dominion Bank acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $104,000. Strs Ohio acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $110,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $138,000. D.A. Davidson & CO. grew its position in shares of East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 26 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $149,000. Hedge funds and other institutional investors own 90.48% of the company’s stock.
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.
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