East West Bancorp, Inc. (NASDAQ:EWBC)’s share price rose 0.9% during trading on Wednesday . The stock traded as high as $29.87 and last traded at $29.91, approximately 46,351 shares were traded during trading. A decline of 98% from the average daily volume of 3,052,587 shares. The stock had previously closed at $29.65.
Several brokerages have issued reports on EWBC. ValuEngine lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. TheStreet lowered East West Bancorp from a “b-” rating to a “c+” rating in a report on Friday, February 28th. UBS Group lowered East West Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $58.00 to $50.00 in a report on Monday, January 6th. Morgan Stanley cut their price target on East West Bancorp from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of East West Bancorp in a report on Friday, March 6th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $50.38.
The stock has a market capitalization of $4.32 billion, a PE ratio of 6.67, a P/E/G ratio of 0.69 and a beta of 1.70. The firm has a 50 day moving average price of $39.50 and a 200 day moving average price of $44.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.18.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The firm had revenue of $431.20 million during the quarter, compared to the consensus estimate of $413.66 million. East West Bancorp had a return on equity of 14.73% and a net margin of 32.22%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 earnings per share. On average, equities analysts forecast that East West Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.
In other news, Director Rudolph Estrada sold 2,626 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.61, for a total value of $125,023.86. Following the completion of the sale, the director now directly owns 15,977 shares of the company’s stock, valued at $760,664.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Herman Y. Li sold 3,300 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $31.03, for a total value of $102,399.00. Following the sale, the director now directly owns 35,961 shares of the company’s stock, valued at $1,115,869.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,098 shares of company stock valued at $533,193. Company insiders own 0.61% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in shares of East West Bancorp by 5.7% during the third quarter. Barclays PLC now owns 114,775 shares of the financial services provider’s stock valued at $5,083,000 after acquiring an additional 6,223 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in East West Bancorp by 0.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 527,602 shares of the financial services provider’s stock valued at $25,694,000 after purchasing an additional 2,753 shares during the period. NumerixS Investment Technologies Inc grew its holdings in East West Bancorp by 85.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 8,358 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 3,840 shares during the period. Pictet Asset Management Ltd. grew its holdings in East West Bancorp by 19.2% during the third quarter. Pictet Asset Management Ltd. now owns 68,237 shares of the financial services provider’s stock valued at $3,022,000 after purchasing an additional 11,000 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in East West Bancorp by 8.7% during the fourth quarter. Boston Trust Walden Corp now owns 358,556 shares of the financial services provider’s stock valued at $17,462,000 after purchasing an additional 28,746 shares during the period. 89.35% of the stock is owned by institutional investors.
About East West Bancorp (NASDAQ:EWBC)
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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