East West Bancorp (NASDAQ:EWBC) Price Target Cut to $97.00 by Analysts at Piper Sandler

East West Bancorp (NASDAQ:EWBC) had its price objective cut by equities research analysts at Piper Sandler from $100.00 to $97.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential downside of 6.42% from the company’s previous close.

A number of other research analysts also recently commented on EWBC. Stephens downgraded shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. DA Davidson lowered their price objective on East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research report on Friday. Keefe, Bruyette & Woods upped their target price on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. UBS Group assumed coverage on East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price target for the company. Finally, StockNews.com downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $110.38.

East West Bancorp Stock Up 0.7 %

Shares of EWBC traded up $0.73 during midday trading on Monday, reaching $103.66. 123,198 shares of the stock were exchanged, compared to its average volume of 910,068. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $101.30 and its two-hundred day moving average is $91.31. The company has a market capitalization of $14.37 billion, a P/E ratio of 13.10, a PEG ratio of 2.85 and a beta of 1.30. East West Bancorp has a 52 week low of $67.27 and a 52 week high of $113.95.

Insiders Place Their Bets

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total transaction of $985,000.00. Following the transaction, the insider now owns 117,193 shares in the company, valued at $11,543,510.50. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,969 shares of company stock worth $2,458,276. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. boosted its holdings in East West Bancorp by 3.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 336 shares during the last quarter. Nordea Investment Management AB lifted its holdings in East West Bancorp by 108.5% in the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider’s stock valued at $5,282,000 after acquiring an additional 28,549 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in East West Bancorp in the third quarter worth approximately $4,157,000. Quest Partners LLC increased its stake in East West Bancorp by 830,133.3% during the third quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider’s stock worth $2,061,000 after acquiring an additional 24,904 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in East West Bancorp by 159.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 18,166 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.