East West Bancorp (NASDAQ:EWBC - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Tuesday.
A number of other research analysts also recently issued reports on the stock. Barclays cut their price objective on shares of East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Citigroup lifted their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. UBS Group started coverage on shares of East West Bancorp in a research report on Tuesday, December 17th. They set a "neutral" rating and a $112.00 target price on the stock. Finally, Truist Financial boosted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $110.38.
Read Our Latest Analysis on EWBC
East West Bancorp Stock Up 0.9 %
Shares of East West Bancorp stock traded up $0.91 on Tuesday, reaching $98.57. The stock had a trading volume of 635,106 shares, compared to its average volume of 944,628. The company has a 50 day moving average price of $99.40 and a 200 day moving average price of $93.08. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. East West Bancorp has a 1 year low of $68.78 and a 1 year high of $113.95. The stock has a market capitalization of $13.66 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.36 and a beta of 1.30.
Insider Activity
In related news, Director Jack C. Liu sold 1,275 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.53, for a total value of $133,275.75. Following the completion of the transaction, the director now directly owns 14,557 shares in the company, valued at $1,521,643.21. The trade was a 8.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.04% of the company's stock.
Hedge Funds Weigh In On East West Bancorp
Large investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its stake in shares of 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 purchasing an additional 336 shares during the period. Nordea Investment Management AB lifted its stake in shares of 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 purchasing an additional 28,549 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in East West Bancorp during the third quarter worth $4,157,000. Quest Partners LLC raised its position in East West Bancorp by 830,133.3% during the third quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider's stock worth $2,061,000 after acquiring an additional 24,904 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in East West Bancorp by 159.1% during the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock worth $2,448,000 after acquiring an additional 18,166 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.
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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