Barclays Increases East West Bancorp (NASDAQ:EWBC) Price Target to $108.00

East West Bancorp (NASDAQ:EWBC) had its target price upped by research analysts at Barclays from $105.00 to $108.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 32.45% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price target on East West Bancorp from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Jefferies Financial Group lowered their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Wedbush upped their price target on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Stephens raised their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.53.

East West Bancorp Stock Up 0.4 %

East West Bancorp stock traded up $0.33 during midday trading on Friday, reaching $81.54. The stock had a trading volume of 118,515 shares, compared to its average volume of 936,917. The company has a fifty day moving average price of $81.44 and a two-hundred day moving average price of $76.98. East West Bancorp has a 12 month low of $49.59 and a 12 month high of $89.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $11.35 billion, a P/E ratio of 10.23, a PEG ratio of 2.80 and a beta of 1.29.

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

Insider Buying and Selling

In other news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares in the company, valued at $1,382,509.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On East West Bancorp

Hedge funds have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in East West Bancorp in the 1st quarter worth approximately $25,000. YHB Investment Advisors Inc. bought a new stake in East West Bancorp during the first quarter valued at $27,000. Kapitalo Investimentos Ltda purchased a new position in East West Bancorp during the fourth quarter worth about $29,000. Rise Advisors LLC purchased a new position in East West Bancorp during the first quarter worth about $30,000. Finally, Cullen Frost Bankers Inc. bought a new position in East West Bancorp in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 89.53% 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.