East West Bancorp (NASDAQ:EWBC) Price Target Increased to $101.00 by Analysts at Truist Financial

East West Bancorp (NASDAQ:EWBC) had its target price upped by equities research analysts at Truist Financial from $93.00 to $101.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 11.75% from the company’s current price.

EWBC has been the topic of a number of other reports. Barclays raised their price objective on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup raised their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler raised their price objective on East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wedbush boosted their price objective on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, DA Davidson increased their target price on East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.15.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $90.38 on Wednesday. The business’s 50-day moving average price is $82.97 and its 200 day moving average price is $78.23. East West Bancorp has a twelve month low of $51.40 and a twelve month high of $93.30. The company has a market capitalization of $12.58 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same period last year, the business posted $2.02 EPS. On average, research analysts predict that East West Bancorp will post 8.2 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,346 shares of company stock valued at $1,108,160 in the last quarter. 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 business. Riverview Trust Co acquired a new position in shares of East West Bancorp in the first quarter worth about $25,000. Oak Thistle LLC acquired a new position in shares of East West Bancorp in the first quarter worth about $262,000. State of Michigan Retirement System boosted its holdings in shares of East West Bancorp by 2.4% in the first quarter. State of Michigan Retirement System now owns 34,622 shares of the financial services provider’s stock worth $2,739,000 after buying an additional 800 shares during the period. Norden Group LLC acquired a new position in shares of East West Bancorp in the first quarter worth about $414,000. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of East West Bancorp in the first quarter worth about $206,000. 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.