Barclays restated their buy rating on shares of East West Bancorp (NASDAQ:EWBC) in a report released on Friday. The firm currently has a $69.00 target price on the financial services provider’s stock.
Other equities research analysts have also issued research reports about the company. DA Davidson upgraded East West Bancorp from a neutral rating to a buy rating in a research note on Tuesday, November 27th. Wells Fargo & Co set a $76.00 price target on East West Bancorp and gave the stock a buy rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded East West Bancorp from a hold rating to a buy rating and set a $70.00 price target for the company in a research note on Tuesday, September 18th. TheStreet lowered East West Bancorp from a b rating to a c+ rating in a research note on Friday, December 21st. Finally, Morgan Stanley cut their price target on East West Bancorp from $67.00 to $61.00 and set an equal weight rating for the company in a research note on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. East West Bancorp has a consensus rating of Hold and an average target price of $70.00.
NASDAQ:EWBC opened at $47.38 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $6.85 billion, a PE ratio of 13.69, a P/E/G ratio of 0.89 and a beta of 1.49. East West Bancorp has a one year low of $40.05 and a one year high of $73.98.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.14 by $0.03. The firm had revenue of $395.22 million during the quarter, compared to analyst estimates of $398.25 million. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. During the same period in the prior year, the business posted $0.91 EPS. Sell-side analysts expect that East West Bancorp will post 4.63 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EWBC. SRS Capital Advisors Inc. bought a new position in shares of East West Bancorp in the 3rd quarter valued at about $100,000. National Pension Service lifted its holdings in shares of East West Bancorp by 138.4% in the 3rd quarter. National Pension Service now owns 2,148 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,247 shares during the last quarter. First Hawaiian Bank bought a new position in shares of East West Bancorp in the 3rd quarter valued at about $169,000. Oppenheimer Asset Management Inc. bought a new position in shares of East West Bancorp in the 3rd quarter valued at about $202,000. Finally, Moody Aldrich Partners LLC bought a new position in shares of East West Bancorp in the 3rd quarter valued at about $207,000. 87.80% of the stock is owned by institutional investors and hedge funds.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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