East West Bancorp (EWBC) Cut to “Sell” at BidaskClub

East West Bancorp (NASDAQ:EWBC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, BidAskClub reports.

EWBC has been the subject of a number of other reports. Zacks Investment Research lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Wedbush boosted their target price on shares of East West Bancorp from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. TheStreet upgraded shares of East West Bancorp from a “c+” rating to a “b” rating in a research note on Thursday, February 7th. Finally, ValuEngine lowered shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $64.63.

Shares of NASDAQ EWBC opened at $47.38 on Tuesday. East West Bancorp has a twelve month low of $40.05 and a twelve month high of $73.98. The company has a market capitalization of $6.90 billion, a P/E ratio of 10.17, a PEG ratio of 0.89 and a beta of 1.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.



East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). East West Bancorp had a return on equity of 15.78% and a net margin of 35.42%. The firm had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $411.11 million. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Sell-side analysts expect that East West Bancorp will post 4.99 earnings per share for the current fiscal year.

In other East West Bancorp news, Director Jack C. Liu sold 2,108 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $55.20, for a total transaction of $116,361.60. Following the completion of the sale, the director now directly owns 18,857 shares in the company, valued at approximately $1,040,906.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of EWBC. Ladenburg Thalmann Financial Services Inc. boosted its holdings in East West Bancorp by 7.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,921 shares of the financial services provider’s stock worth $1,149,000 after buying an additional 1,753 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in East West Bancorp by 81.0% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 25,700 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 11,500 shares during the period. Man Group plc boosted its holdings in East West Bancorp by 72.1% in the 1st quarter. Man Group plc now owns 30,600 shares of the financial services provider’s stock worth $1,468,000 after buying an additional 12,822 shares during the period. M&T Bank Corp boosted its holdings in East West Bancorp by 6.1% in the 1st quarter. M&T Bank Corp now owns 50,950 shares of the financial services provider’s stock worth $2,444,000 after buying an additional 2,937 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in East West Bancorp by 1.4% in the 1st quarter. Macquarie Group Ltd. now owns 3,634,780 shares of the financial services provider’s stock worth $174,361,000 after buying an additional 50,179 shares during the period. Hedge funds and other institutional investors own 88.99% 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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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