DA Davidson Increases East West Bancorp (NASDAQ:EWBC) Price Target to $100.00

East West Bancorp (NASDAQ:EWBC) had its target price increased by stock analysts at DA Davidson from $92.00 to $100.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would suggest a potential upside of 14.93% from the company’s current price.

Several other brokerages have also recently commented on EWBC. Barclays reduced their target price on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Jefferies Financial Group decreased their target price on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Piper Sandler increased their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial cut their price target on shares of East West Bancorp from $86.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Stephens upped their price objective on East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.60.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $87.01 on Wednesday. The firm’s 50-day moving average is $74.31 and its 200-day moving average is $74.21. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 5.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93. East West Bancorp has a 52-week low of $49.59 and a 52-week high of $88.16.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. East West Bancorp had a return on equity of 16.85% and a net margin of 25.40%. The firm had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. During the same period in the previous year, the company posted $2.20 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that East West Bancorp will post 8.02 earnings per share for the current year.

Insider Transactions at East West Bancorp

In related news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the sale, the insider now directly owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several large investors have recently made changes to their positions in the company. Riverview Trust Co bought a new stake in East West Bancorp during the 1st quarter worth about $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of East West Bancorp during the 1st quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of East West Bancorp during the fourth quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in East West Bancorp in the first quarter valued at approximately $30,000. Finally, Mather Group LLC. acquired a new position in East West Bancorp in the first quarter valued at approximately $35,000. Institutional investors and hedge funds 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.