Wells Fargo & Company Lowers East West Bancorp (NASDAQ:EWBC) Price Target to $100.00

East West Bancorp (NASDAQ:EWBC - Get Free Report) had its price objective cut by investment analysts at Wells Fargo & Company from $120.00 to $100.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 34.41% from the stock's previous close.

A number of other research firms have also recently commented on EWBC. StockNews.com cut shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Friday, March 28th. DA Davidson reduced their target price on East West Bancorp from $120.00 to $118.00 and set a "buy" rating for the company in a report on Friday, January 24th. Barclays lowered their price target on East West Bancorp from $120.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley cut shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $118.00 to $90.00 in a research note on Monday, April 7th. Finally, Compass Point raised their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $106.46.

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East West Bancorp Stock Up 3.1 %

East West Bancorp stock traded up $2.24 during mid-day trading on Wednesday, reaching $74.40. The stock had a trading volume of 1,191,262 shares, compared to its average volume of 1,189,045. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. East West Bancorp has a one year low of $68.27 and a one year high of $113.95. The company has a 50-day moving average price of $89.37 and a two-hundred day moving average price of $95.16.

Insider Buying and Selling

In other East West Bancorp news, CEO Dominic Ng sold 19,819 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $90.00, for a total value of $1,783,710.00. Following the sale, the chief executive officer now owns 968,314 shares in the company, valued at $87,148,260. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Liu sold 1,275 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.53, for a total value of $133,275.75. Following the transaction, the director now owns 14,557 shares of the company's stock, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,181 shares of company stock worth $5,625,732. 1.04% of the stock is owned by corporate insiders.

Institutional Trading of East West Bancorp

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of East West Bancorp in the fourth quarter valued at $166,590,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in East West Bancorp by 1,667.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock valued at $64,174,000 after purchasing an additional 632,245 shares during the last quarter. Boston Partners grew its stake in shares of East West Bancorp by 23.1% in the 4th quarter. Boston Partners now owns 2,383,284 shares of the financial services provider's stock worth $228,269,000 after buying an additional 447,057 shares in the last quarter. Invesco Ltd. increased its holdings in shares of East West Bancorp by 17.0% in the 4th quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider's stock worth $289,052,000 after buying an additional 437,676 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of East West Bancorp by 10,357.5% during the 1st quarter. GAMMA Investing LLC now owns 367,477 shares of the financial services provider's stock valued at $32,985,000 after buying an additional 363,963 shares in the last quarter. Institutional investors own 89.53% 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.