Today: Today, East West Bancorp Inc. (EWBC) PT Raised to $45.00 at Deutsche Bank AG

Today, East West Bancorp Inc. (EWBC) PT Raised to $45.00 at Deutsche Bank AG

East West Bancorp Inc. (NASDAQ:EWBC) had its price objective boosted by Deutsche Bank AG from $40.00 to $45.00 in a research report sent to investors on Tuesday morning. The brokerage currently has a buy rating on the financial services provider’s stock.

EWBC has been the subject of a number of other research reports. Zacks Investment Research downgraded East West Bancorp from a hold rating to a sell rating in a research report on Monday, September 26th. BMO Capital Markets restated a buy rating and issued a $41.00 target price on shares of East West Bancorp in a research report on Friday, July 22nd. Finally, Macquarie upgraded 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 assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $43.43.

Shares of East West Bancorp (NASDAQ:EWBC) opened at 38.60 on Tuesday. The firm’s 50-day moving average is $36.98 and its 200-day moving average is $35.78. East West Bancorp has a 52-week low of $27.25 and a 52-week high of $43.94. The firm has a market cap of $5.56 billion, a P/E ratio of 14.14 and a beta of 1.55.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. East West Bancorp had a return on equity of 12.49% and a net margin of 31.15%. 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 earnings per share for the current year.

In other East West Bancorp news, Director Jack C. Liu sold 2,101 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $37.35, for a total value of $78,472.35. Following the completion of the sale, the director now owns 29,006 shares in the company, valued at $1,083,374.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rudolph Estrada sold 2,888 shares of the business’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 value of $99,982.56. Following the completion of the sale, the director now owns 15,261 shares of the company’s stock, valued at approximately $528,335.82. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in EWBC. Metropolitan Life Insurance Co. NY increased its stake in shares of East West Bancorp by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 130,416 shares of the financial services provider’s stock valued at $4,236,000 after buying an additional 3,687 shares during the last quarter. Wellington Management Group LLP boosted its position in East West Bancorp by 1.8% in the first quarter. Wellington Management Group LLP now owns 1,031,579 shares of the financial services provider’s stock valued at $33,505,000 after buying an additional 18,662 shares during the period. M&T Bank Corp boosted its position in East West Bancorp by 174.3% in the first quarter. M&T Bank Corp now owns 67,541 shares of the financial services provider’s stock valued at $2,193,000 after buying an additional 42,916 shares during the period. Handelsbanken Fonder AB boosted its position in 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 valued at $31,616,000 after buying an additional 525,000 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in East West Bancorp by 7.1% in the first quarter. Nuveen Asset Management LLC now owns 264,854 shares of the financial services provider’s stock valued at $8,602,000 after buying an additional 17,580 shares during the period. Hedge funds and other institutional investors own 85.41% of the company’s stock.

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