East West Bancorp (NASDAQ:EWBC - Get Free Report) had its target price decreased by Morgan Stanley from $127.00 to $118.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's target price points to a potential upside of 32.90% from the company's current price.
Several other equities research analysts have also issued reports on EWBC. Compass Point boosted 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. Piper Sandler lowered their target price on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Stephens downgraded East West Bancorp from an "overweight" rating to an "equal weight" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Barclays decreased their price target on East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp has an average rating of "Moderate Buy" and a consensus target price of $111.31.
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East West Bancorp Stock Performance
Shares of NASDAQ:EWBC traded up $0.82 during trading on Thursday, hitting $88.79. 896,153 shares of the stock were exchanged, compared to its average volume of 828,057. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. East West Bancorp has a 1-year low of $68.78 and a 1-year high of $113.95. The company's fifty day simple moving average is $96.50 and its 200-day simple moving average is $94.92.
Insiders Place Their Bets
In other news, CEO Dominic Ng sold 20,181 shares of East West Bancorp stock in a transaction on Friday, March 7th. The stock was sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the sale, the chief executive officer now directly owns 988,133 shares of the company's stock, valued at approximately $88,941,851.33. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,275 shares of the business's stock in a transaction on Thursday, January 30th. The stock was 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 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 three months, insiders sold 42,362 shares of company stock valued at $3,842,022. Insiders own 1.04% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of East West Bancorp during the third quarter worth approximately $26,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in East West Bancorp during the 4th quarter worth $26,000. Venturi Wealth Management LLC raised its position in shares of East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 175 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 306 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of East West Bancorp by 83.4% in the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock worth $63,000 after purchasing an additional 301 shares during the last quarter. Institutional investors own 89.53% of the company's stock.
About East West Bancorp
(
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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