Keefe, Bruyette & Woods Raises East West Bancorp (NASDAQ:EWBC) Price Target to $128.00

East West Bancorp (NASDAQ:EWBC) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $96.00 to $128.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 20.94% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Compass Point upped their price target on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Truist Financial boosted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday. DA Davidson boosted their price target on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler lifted their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.08.

East West Bancorp Stock Down 1.1 %

Shares of NASDAQ EWBC traded down $1.17 on Wednesday, reaching $105.84. 132,461 shares of the company’s stock traded hands, compared to its average volume of 921,002. The business’s 50 day simple moving average is $96.28 and its two-hundred day simple moving average is $84.14. East West Bancorp has a 12 month low of $66.39 and a 12 month high of $113.95. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 3.14 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. During the same quarter last year, the company earned $2.02 EPS. As a group, equities research analysts forecast that East West Bancorp will post 8.38 EPS for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In other news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the sale, the insider now directly owns 117,193 shares of the company’s stock, valued at $11,543,510.50. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rudolph Estrada sold 469 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the sale, the director now owns 17,750 shares in the company, valued at $1,740,210. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,969 shares of company stock valued at $2,458,276. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of EWBC. Cetera Advisors LLC purchased a new position in East West Bancorp in the 1st quarter worth approximately $278,000. Mather Group LLC. increased its holdings in East West Bancorp by 58.1% in the 2nd quarter. Mather Group LLC. now owns 759 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 279 shares during the last quarter. Simplicity Wealth LLC increased its holdings in East West Bancorp by 7.5% in the 2nd quarter. Simplicity Wealth LLC now owns 3,381 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 237 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of East West Bancorp during the 2nd quarter valued at about $3,832,000. Finally, OLD National Bancorp IN grew its position in shares of East West Bancorp by 6.4% during the second quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 175 shares in the last quarter. 89.53% of the stock is owned by 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.