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.
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.
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.