Wells Fargo & Company Increases East West Bancorp (NASDAQ:EWBC) Price Target to $105.00

East West Bancorp (NASDAQ:EWBC) had its price target boosted by analysts at Wells Fargo & Company from $97.00 to $105.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.49% from the stock’s previous close.

Several other research firms have also commented on EWBC. Morgan Stanley lifted their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler increased their target price on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. 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, DA Davidson raised their target price on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.77.

East West Bancorp Price Performance

Shares of NASDAQ EWBC traded up $6.40 during midday trading on Wednesday, hitting $96.78. The stock had a trading volume of 420,174 shares, compared to its average volume of 922,415. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 1 year low of $51.40 and a 1 year high of $98.95. The company has a market capitalization of $13.47 billion, a PE ratio of 12.19, a P/E/G ratio of 2.08 and a beta of 1.29. The stock has a 50 day simple moving average of $82.97 and a 200-day simple moving average of $78.23.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. During the same period last year, the company posted $2.02 EPS. On average, sell-side analysts expect that East West Bancorp will post 8.2 EPS for the current fiscal year.

Insider Buying and Selling at East West Bancorp

In other news, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gary Teo sold 3,450 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,346 shares of company stock worth $1,108,160 in the last quarter. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in East West Bancorp in the 1st quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new position in East West Bancorp during the second quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of East West Bancorp in the 2nd quarter worth approximately $31,000. Finally, Signaturefd LLC boosted its holdings in East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $39,000 after buying an additional 446 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Company Profile

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.