DA Davidson Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $107.00

East West Bancorp (NASDAQ:EWBC) had its price target lifted by DA Davidson from $100.00 to $107.00 in a research report sent to investors on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group reduced their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Stephens boosted their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com downgraded East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Citigroup lifted their target price on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.08.

East West Bancorp Price Performance

Shares of EWBC opened at $95.63 on Wednesday. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.08 and a beta of 1.29. The stock has a 50 day moving average of $83.31 and a 200-day moving average of $78.36. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 52 week low of $51.40 and a 52 week high of $98.95.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. During the same quarter in the previous year, the firm posted $2.02 EPS. As a group, analysts forecast that East West Bancorp will post 8.2 EPS for the current year.

Insider Transactions at East West Bancorp

In other news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares of the company’s stock, valued at $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the sale, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,346 shares of company stock valued at $1,108,160. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of East West Bancorp by 2.8% during the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 128 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of East West Bancorp by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 133 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of East West Bancorp by 4.4% during the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock valued at $294,000 after buying an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of East West Bancorp by 3.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after buying an additional 160 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of East West Bancorp by 5.5% during the third quarter. First Citizens Bank & Trust Co. now owns 3,178 shares of the financial services provider’s stock valued at $263,000 after buying an additional 165 shares in the last quarter. 89.53% 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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.