East West Bancorp (NASDAQ:EWBC) Price Target Cut to $118.00 by Analysts at DA Davidson

East West Bancorp (NASDAQ:EWBC) had its price target trimmed by DA Davidson from $120.00 to $118.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on EWBC. Stephens cut shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Truist Financial upped their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush raised their target price on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upped their price target on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.23.

East West Bancorp Stock Performance

East West Bancorp stock opened at $102.93 on Friday. The firm has a fifty day simple moving average of $101.30 and a two-hundred day simple moving average of $91.05. 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 has a twelve month low of $67.27 and a twelve month high of $113.95. The company has a market capitalization of $14.27 billion, a PE ratio of 13.00, a P/E/G ratio of 2.85 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same period in the prior year, the business posted $2.02 EPS. Research analysts expect that East West Bancorp will post 8.38 EPS for the current year.

Insider Activity

In related news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the transaction, the director now directly owns 10,639 shares of the company’s stock, valued at $1,049,537.35. This trade represents a 12.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,969 shares of company stock worth $2,458,276. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of East West Bancorp in the third quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new stake in East West Bancorp during the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its holdings in 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 acquiring an additional 283 shares during the last quarter. Tobam lifted its holdings in shares of East West Bancorp by 131.7% during the third quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in East West Bancorp during the 3rd quarter valued at about $79,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.