East West Bancorp (NASDAQ:EWBC - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Thursday.
A number of other equities research analysts have also recently issued reports on EWBC. Piper Sandler reduced their price objective on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Stephens cut East West Bancorp from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their price target on East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of East West Bancorp from $96.00 to $128.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, Compass Point boosted their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $111.31.
Read Our Latest Stock Report on EWBC
East West Bancorp Trading Up 2.5 %
East West Bancorp stock opened at $90.36 on Thursday. East West Bancorp has a 52 week low of $68.78 and a 52 week high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The stock has a market capitalization of $12.51 billion, a P/E ratio of 10.85, a PEG ratio of 1.29 and a beta of 1.28. The stock has a 50-day simple moving average of $96.25 and a 200 day simple moving average of $94.92.
Insider Buying and Selling at East West Bancorp
In related news, Director Jack C. Liu sold 1,275 shares of the company'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 sale, the director now owns 14,557 shares in the company, valued at $1,521,643.21. This represents a 8.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dominic Ng sold 20,181 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the completion of the sale, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,362 shares of company stock valued at $3,842,022. 1.04% of the stock is currently owned by insiders.
Institutional Investors Weigh In On East West Bancorp
Institutional investors and hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. increased its stake in East West Bancorp by 3.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock valued at $974,000 after buying an additional 336 shares during the last quarter. Nordea Investment Management AB increased its stake in East West Bancorp by 108.5% in the 4th quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider's stock valued at $5,282,000 after buying an additional 28,549 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock valued at $64,174,000 after buying an additional 632,245 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in East West Bancorp in the 3rd quarter valued at about $4,157,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in East West Bancorp by 18.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider's stock valued at $9,699,000 after buying an additional 15,475 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.
East West Bancorp Company Profile
(
Get Free Report)
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.
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