East West Bancorp (NASDAQ:EWBC) PT Raised to $97.00 at Wells Fargo & Company

East West Bancorp (NASDAQ:EWBC) had its price target upped by research analysts at Wells Fargo & Company from $95.00 to $97.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 21.10% from the company’s previous close.

A number of other brokerages also recently commented on EWBC. DA Davidson raised their price objective on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wedbush raised their price objective on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday. Barclays increased their target price on East West Bancorp from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday. Finally, StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.87.

East West Bancorp Stock Performance

NASDAQ:EWBC traded down $2.64 during mid-day trading on Tuesday, hitting $80.10. 315,000 shares of the company’s stock traded hands, compared to its average volume of 936,998. The firm has a 50 day moving average of $81.51 and a two-hundred day moving average of $77.11. East West Bancorp has a 12 month low of $49.59 and a 12 month high of $89.75. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 2.80 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 announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share 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 prior year, the company earned $2.20 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts forecast that East West Bancorp will post 8.17 earnings per share for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the business’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 transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now directly owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares in the company, valued at $1,486,343.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,346 shares of company stock valued at $1,108,160. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Hedge funds have recently made changes to their positions in the business. Miller Howard Investments Inc. NY bought a new position in shares of East West Bancorp during the 1st quarter worth approximately $39,347,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in East West Bancorp during the 1st quarter valued at $3,961,000. Manning & Napier Advisors LLC acquired a new stake in East West Bancorp during the 2nd quarter valued at $3,832,000. Inspire Investing LLC lifted its holdings in East West Bancorp by 197.8% during the 1st quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 10,535 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in East West Bancorp during the 1st quarter valued at $909,000. 89.53% of the stock is owned by institutional investors.

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.