Barclays Lowers East West Bancorp (NASDAQ:EWBC) Price Target to $120.00

East West Bancorp (NASDAQ:EWBC) had its price objective lowered by investment analysts at Barclays from $125.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 16.58% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Truist Financial increased their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Piper Sandler increased their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Stephens lowered East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. DA Davidson dropped their target price on East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wedbush boosted their price target on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.23.

East West Bancorp Stock Down 0.6 %

Shares of NASDAQ EWBC opened at $102.93 on Friday. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.85 and a beta of 1.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp has a 12 month low of $67.27 and a 12 month high of $113.95. The stock has a 50-day moving average price of $101.30 and a two-hundred day moving average price of $91.18.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,740,210. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the sale, the insider now owns 117,193 shares of the company’s stock, valued at $11,543,510.50. This represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,969 shares of company stock worth $2,458,276. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of East West Bancorp by 152.1% during the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock valued at $27,404,000 after purchasing an additional 225,799 shares during the period. Westfield Capital Management Co. LP raised its stake in East West Bancorp by 39.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock worth $43,079,000 after buying an additional 148,530 shares during the period. FMR LLC raised its stake in East West Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after buying an additional 136,528 shares during the period. Assenagon Asset Management S.A. bought a new position in East West Bancorp in the fourth quarter worth approximately $12,734,000. Finally, Jennison Associates LLC grew its stake 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 valued at $149,287,000 after acquiring an additional 123,376 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

About East West Bancorp

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.