East West Bancorp (NASDAQ:EWBC) PT Raised to $92.00 at Piper Sandler

East West Bancorp (NASDAQ:EWBC) had its price objective hoisted by equities research analysts at Piper Sandler from $72.50 to $92.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 5.73% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Barclays dropped their price target on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Truist Financial reduced their price target on shares of East West Bancorp from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, July 8th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group reduced their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $88.60.

East West Bancorp Trading Up 3.1 %

Shares of NASDAQ EWBC opened at $87.01 on Wednesday. The stock has a market cap of $12.11 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 5.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. East West Bancorp has a 1 year low of $49.59 and a 1 year high of $88.16. The firm has a 50-day moving average of $74.31 and a 200 day moving average of $74.21.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a return on equity of 16.85% and a net margin of 25.40%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. As a group, sell-side analysts expect that East West Bancorp will post 8.02 EPS for the current fiscal year.

Insider Transactions at East West Bancorp

In other news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the sale, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the sale, the insider now owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the transaction, the insider now directly owns 57,403 shares in the company, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in East West Bancorp by 30.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after buying an additional 751,944 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in East West Bancorp during the 1st quarter valued at approximately $39,347,000. Allspring Global Investments Holdings LLC lifted its holdings in East West Bancorp by 40,757.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock worth $7,437,000 after purchasing an additional 103,117 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in East West Bancorp in the 1st quarter worth approximately $3,961,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in East West Bancorp by 193.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,005 shares of the financial services provider’s stock valued at $1,224,000 after buying an additional 11,208 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.