East West Bancorp (NASDAQ:EWBC) Given New $86.00 Price Target at Truist Financial

East West Bancorp (NASDAQ:EWBC) had its price target dropped by investment analysts at Truist Financial from $90.00 to $86.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 13.26% from the company’s current price.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods raised their price target on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group raised their price target on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Compass Point raised their price target on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Barclays assumed coverage on shares of East West Bancorp in a research report on Friday, March 8th. They issued an “overweight” rating and a $106.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of East West Bancorp in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.08.

East West Bancorp Stock Performance

Shares of East West Bancorp stock traded down $1.27 during trading on Thursday, hitting $75.93. 498,331 shares of the company’s stock were exchanged, compared to its average volume of 1,211,870. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day simple moving average of $74.69 and a 200-day simple moving average of $68.34. East West Bancorp has a 52-week low of $41.12 and a 52-week high of $79.54. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.96 and a beta of 1.39.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. The firm had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.32 earnings per share. On average, research analysts forecast that East West Bancorp will post 7.87 EPS for the current year.

Insider Activity

In other news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the transaction, the director now owns 16,739 shares in the company, valued at $1,231,655.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total transaction of $125,547.50. Following the completion of the transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in East West Bancorp during the 4th quarter worth approximately $115,369,000. Westfield Capital Management Co. LP acquired a new position in East West Bancorp during the 4th quarter worth approximately $67,692,000. Boston Partners grew its holdings in East West Bancorp by 48.5% during the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after acquiring an additional 886,841 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in East West Bancorp by 30.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after acquiring an additional 751,944 shares in the last quarter. Finally, Ruffer LLP acquired a new position in East West Bancorp during the 3rd quarter worth approximately $33,675,000. Institutional investors and hedge funds 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.