East West Bancorp (NASDAQ:EWBC – Get Rating) had its price objective cut by Truist Financial from $100.00 to $80.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s price target would suggest a potential upside of 23.48% from the company’s previous close.
Several other brokerages have also weighed in on EWBC. StockNews.com initiated coverage on East West Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company increased their target price on East West Bancorp from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, East West Bancorp has an average rating of “Buy” and an average target price of $95.33.
Shares of EWBC opened at $64.79 on Wednesday. The business’s fifty day moving average price is $73.00 and its 200 day moving average price is $79.14. East West Bancorp has a 12-month low of $63.36 and a 12-month high of $93.51. The stock has a market capitalization of $9.22 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.94 and a beta of 1.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.
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East West Bancorp (NASDAQ:EWBC – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.13. East West Bancorp had a return on equity of 15.90% and a net margin of 46.15%. The firm had revenue of $495.00 million for the quarter, compared to analysts’ expectations of $478.35 million. During the same period last year, the business posted $1.44 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that East West Bancorp will post 7.01 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI bought a new position in East West Bancorp during the fourth quarter valued at about $35,000. Quadrant Capital Group LLC boosted its stake in East West Bancorp by 52.8% during the first quarter. Quadrant Capital Group LLC now owns 440 shares of the financial services provider’s stock valued at $35,000 after buying an additional 152 shares in the last quarter. Signaturefd LLC boosted its stake in East West Bancorp by 119.8% during the first quarter. Signaturefd LLC now owns 455 shares of the financial services provider’s stock valued at $36,000 after buying an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in East West Bancorp by 868.8% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the financial services provider’s stock valued at $37,000 after buying an additional 417 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in East West Bancorp by 3,385.7% during the first quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $39,000 after buying an additional 474 shares in the last quarter. 89.44% of the stock is owned by institutional investors and hedge funds.
About East West Bancorp (Get Rating)
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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
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