Trade Report: Today, Barclays PLC Raises East West Bancorp Inc. (EWBC) Price Target to $45.00

Today, Barclays PLC Raises East West Bancorp Inc. (EWBC) Price Target to $45.00

East West Bancorp Inc. (NASDAQ:EWBC) had its target price lifted by Barclays PLC from $41.00 to $45.00 in a research report released on Tuesday morning. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. Deutsche Bank AG boosted their price objective on shares of East West Bancorp from $40.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, October 11th. Zacks Investment Research upgraded shares of East West Bancorp from a sell rating to a hold rating in a research report on Monday, October 3rd. BMO Capital Markets restated a buy rating and issued a $41.00 price target on shares of East West Bancorp in a research report on Friday, July 22nd. Finally, Macquarie upgraded shares of East West Bancorp from a neutral rating to an outperform rating in a research report on Friday, July 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $43.43.

East West Bancorp (NASDAQ:EWBC) opened at 38.60 on Tuesday. East West Bancorp has a 12 month low of $27.25 and a 12 month high of $43.94. The firm has a market capitalization of $5.56 billion, a P/E ratio of 14.14 and a beta of 1.55. The company’s 50 day moving average price is $36.98 and its 200 day moving average price is $35.78.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.68 earnings per share. Analysts anticipate that East West Bancorp will post $2.85 EPS for the current year.

In related news, Director Jack C. Liu sold 2,101 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $37.35, for a total value of $78,472.35. Following the transaction, the director now directly owns 29,006 shares in the company, valued at approximately $1,083,374.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 2,888 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 15,261 shares in the company, valued at $528,335.82. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in East West Bancorp by 4.7% in the second quarter. Vanguard Group Inc. now owns 10,503,670 shares of the financial services provider’s stock worth $359,016,000 after buying an additional 476,005 shares during the last quarter. JPMorgan Chase & Co. raised its position in 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. State Street Corp raised its position in East West Bancorp by 8.0% in the first quarter. State Street Corp now owns 6,222,360 shares of the financial services provider’s stock worth $202,098,000 after buying an additional 461,946 shares during the last quarter. BlackRock Fund Advisors raised its position in East West Bancorp by 3.9% in the second quarter. BlackRock Fund Advisors now owns 5,241,234 shares of the financial services provider’s stock worth $179,145,000 after buying an additional 198,258 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in 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. Institutional investors and hedge funds own 85.41% of the company’s stock.

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