Compass Point Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $110.00

East West Bancorp (NASDAQ:EWBC) had its price target boosted by analysts at Compass Point from $93.00 to $110.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Compass Point’s price target would indicate a potential upside of 14.91% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Truist Financial raised their target price on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley increased their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wedbush boosted their target price on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Stephens lifted their price target on shares of East West Bancorp from $91.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.46.

East West Bancorp Trading Up 0.1 %

Shares of EWBC stock traded up $0.10 during trading hours on Thursday, reaching $95.73. 193,408 shares of the stock traded hands, compared to its average volume of 928,711. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $13.32 billion, a PE ratio of 12.06, a PEG ratio of 2.08 and a beta of 1.29. East West Bancorp has a 1-year low of $51.40 and a 1-year high of $98.95. The business has a fifty day moving average price of $83.31 and a 200 day moving average price of $78.36.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter last year, the firm posted $2.02 earnings per share. On average, equities research analysts forecast that East West Bancorp will post 8.2 EPS for the current year.

Insider Transactions at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction 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 sale, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,346 shares of company stock valued at $1,108,160. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWBC. Wealth Enhancement Advisory Services LLC raised its stake in East West Bancorp by 21.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,366 shares of the financial services provider’s stock worth $361,000 after buying an additional 760 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of East West Bancorp by 10.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,845 shares of the financial services provider’s stock worth $6,917,000 after buying an additional 8,134 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in East West Bancorp in the 3rd quarter valued at approximately $3,142,000. Private Advisor Group LLC grew its stake in shares of East West Bancorp by 11.3% during the 3rd quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 462 shares in the last quarter. Finally, RBA Wealth Management LLC increased its stake in East West Bancorp by 0.7% in the 3rd quarter. RBA Wealth Management LLC now owns 56,310 shares of the financial services provider’s stock valued at $4,659,000 after buying an additional 397 shares during the last quarter. 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.