East West Bancorp (NASDAQ:EWBC) Price Target Increased to $108.00 by Analysts at Barclays

East West Bancorp (NASDAQ:EWBC) had its target price increased by research analysts at Barclays from $105.00 to $108.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 32.47% from the stock’s previous close.

Several other brokerages have also recently issued reports on EWBC. Wells Fargo & Company boosted their price objective on shares of East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Wedbush lifted their price objective on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Stephens raised their price target on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $89.53.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $81.53 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp has a one year low of $49.59 and a one year high of $89.75. The company has a 50-day simple moving average of $81.50 and a 200-day simple moving average of $77.04. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. On average, analysts predict that East West Bancorp will post 8.17 EPS for the current year.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company’s stock, valued at $1,382,509.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at $1,621,111.90. The disclosure for this sale can be found here. In the last three months, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EWBC. Franklin Resources Inc. grew its holdings in shares of East West Bancorp by 2.1% during the fourth quarter. Franklin Resources Inc. now owns 28,655 shares of the financial services provider’s stock worth $2,062,000 after buying an additional 576 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in East West Bancorp by 29.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 840 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 190 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of East West Bancorp by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 64,059 shares of the financial services provider’s stock worth $4,609,000 after purchasing an additional 600 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of East West Bancorp by 34,990.9% during the 4th quarter. TFO Wealth Partners LLC now owns 3,860 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 3,849 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of East West Bancorp during the fourth quarter worth $247,000. 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.