East West Bancorp (EWBC) Stock Rating Upgraded by BidaskClub

East West Bancorp (NASDAQ:EWBC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, May 7th, BidAskClub reports.

A number of other research firms have also recently commented on EWBC. TheStreet upgraded East West Bancorp from a “c+” rating to a “b” rating in a report on Thursday, February 7th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 12th. Barclays reiterated a “buy” rating and set a $69.00 target price on shares of East West Bancorp in a research note on Friday, January 11th. Wedbush increased their target price on shares of East West Bancorp from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Finally, ValuEngine upgraded shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $63.38.

Shares of East West Bancorp stock traded down $1.68 during trading on Tuesday, reaching $43.83. The company’s stock had a trading volume of 938,492 shares, compared to its average volume of 890,227. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 0.86 and a beta of 1.55. East West Bancorp has a 1-year low of $40.05 and a 1-year high of $73.98.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.06). East West Bancorp had a return on equity of 15.78% and a net margin of 35.42%. The business had revenue of $404.59 million during the quarter, compared to analyst estimates of $411.11 million. During the same period in the previous year, the business earned $1.13 EPS. On average, equities research analysts anticipate that East West Bancorp will post 4.99 earnings per share for the current fiscal year.

In related news, Director Jack C. Liu sold 2,108 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $55.20, for a total value of $116,361.60. Following the completion of the sale, the director now owns 18,857 shares in the company, valued at $1,040,906.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in East West Bancorp by 1.4% in the 1st quarter. BlackRock Inc. now owns 15,631,046 shares of the financial services provider’s stock worth $749,821,000 after acquiring an additional 210,275 shares during the last quarter. Vanguard Group Inc grew its stake in East West Bancorp by 1.4% in the third quarter. Vanguard Group Inc now owns 13,297,189 shares of the financial services provider’s stock worth $802,751,000 after purchasing an additional 187,861 shares during the period. Aristotle Capital Management LLC grew its stake in East West Bancorp by 6.4% in the first quarter. Aristotle Capital Management LLC now owns 5,684,634 shares of the financial services provider’s stock worth $272,692,000 after purchasing an additional 342,867 shares during the period. JPMorgan Chase & Co. boosted its holdings in East West Bancorp by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 4,923,380 shares of the financial services provider’s stock worth $236,175,000 after acquiring an additional 14,063 shares in the last quarter. Finally, Boston Partners boosted its holdings in East West Bancorp by 2.1% in the first quarter. Boston Partners now owns 4,682,285 shares of the financial services provider’s stock worth $224,610,000 after acquiring an additional 94,548 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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