The Analysts Set East West Bancorp Inc. (NASDAQ:EWBC) PT at $43.40

The Analysts Set East West Bancorp Inc. (NASDAQ:EWBC) PT at $43.40

Shares of East West Bancorp Inc. (NASDAQ:EWBC) have been given a consensus rating of “Buy” by the nine brokerages that are presently covering the firm. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $43.40.

EWBC has been the subject of a number of recent analyst reports. Macquarie raised shares of East West Bancorp from a “neutral” rating to an “outperform” rating in a research report on Friday, July 22nd. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $41.00 price objective on shares of East West Bancorp in a research report on Friday, July 22nd.

Shares of East West Bancorp (NASDAQ:EWBC) opened at 39.11 on Tuesday. The firm has a market capitalization of $5.64 billion, a P/E ratio of 14.33 and a beta of 1.55. East West Bancorp has a 52-week low of $27.25 and a 52-week high of $43.94. The stock has a 50 day moving average of $36.37 and a 200-day moving average of $35.58.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. East West Bancorp had a net margin of 31.15% and a return on equity of 12.49%. During the same period in the prior year, the business posted $0.68 earnings per share. Equities analysts expect that East West Bancorp will post $2.85 earnings per share for the current fiscal year.

In related news, Director Jack C. Liu sold 2,101 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $37.35, for a total transaction of $78,472.35. Following the sale, the director now directly owns 29,006 shares in the company, valued at approximately $1,083,374.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 2,888 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.62, for a total transaction of $99,982.56. Following the sale, the director now owns 15,261 shares in the company, valued at $528,335.82. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of East West Bancorp by 25.5% in the first quarter. JPMorgan Chase & Co. now owns 6,422,821 shares of the financial services provider’s stock worth $208,612,000 after buying an additional 1,306,783 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of East West Bancorp by 24.6% in the second quarter. Lord Abbett & CO. LLC now owns 5,132,227 shares of the financial services provider’s stock worth $175,419,000 after buying an additional 1,013,941 shares during the last quarter. Norges Bank acquired a new stake in shares of East West Bancorp during the fourth quarter worth approximately $40,652,000. Renaissance Technologies LLC acquired a new stake in shares of East West Bancorp during the first quarter worth approximately $20,704,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of East West Bancorp by 131.3% in the second quarter. Handelsbanken Fonder AB now owns 925,000 shares of the financial services provider’s stock worth $31,616,000 after buying an additional 525,000 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

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