Raymond James lowered shares of East West Bancorp (NASDAQ:EWBC) from a market perform rating to an underperform rating in a report published on Monday, BenzingaRatingsTable reports.
Other analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Dongfeng Motor Group from an equal weight rating to an overweight rating in a research report on Monday, July 1st. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Monday, May 13th. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research report on Friday, June 28th. Wedbush reiterated a buy rating and issued a $35.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, June 3rd. Finally, Zacks Investment Research upgraded shares of Booz Allen Hamilton from a hold rating to a buy rating and set a $71.00 price target for the company in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $61.38.
EWBC stock opened at $45.86 on Monday. The firm has a fifty day simple moving average of $45.05. East West Bancorp has a 12 month low of $40.05 and a 12 month high of $68.06. The stock has a market cap of $6.57 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.98 and a beta of 1.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $411.11 million. During the same quarter last year, the company earned $1.13 EPS. As a group, research analysts anticipate that East West Bancorp will post 4.93 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in East West Bancorp by 1.4% during the 1st quarter. BlackRock Inc. now owns 15,631,046 shares of the financial services provider’s stock worth $749,821,000 after buying an additional 210,275 shares during the last quarter. JPMorgan Chase & Co. raised its position in East West Bancorp by 0.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,923,380 shares of the financial services provider’s stock worth $236,175,000 after buying an additional 14,063 shares during the last quarter. Boston Partners raised its position in East West Bancorp by 2.1% during the 1st quarter. Boston Partners now owns 4,682,285 shares of the financial services provider’s stock worth $224,610,000 after buying an additional 94,548 shares during the last quarter. William Blair Investment Management LLC raised its position in East West Bancorp by 132.7% during the 1st quarter. William Blair Investment Management LLC now owns 3,757,889 shares of the financial services provider’s stock worth $180,266,000 after buying an additional 2,142,829 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in East West Bancorp by 3.4% during the 4th quarter. Macquarie Group Ltd. now owns 3,584,601 shares of the financial services provider’s stock worth $156,037,000 after buying an additional 119,282 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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