Truist Financial Raises East West Bancorp (NASDAQ:EWBC) Price Target to $101.00

East West Bancorp (NASDAQ:EWBC) had its price target boosted by Truist Financial from $93.00 to $101.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

EWBC has been the topic of several other research reports. Piper Sandler increased their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Wedbush increased their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Stephens increased their price objective on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $97.08.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $95.63 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $83.31 and a two-hundred day moving average of $78.36. The stock has a market cap of $13.31 billion, a P/E ratio of 12.04, 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.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly 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 net margin of 25.40% and a return on equity of 16.64%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter last year, the company posted $2.02 earnings per share. On average, research analysts expect that East West Bancorp will post 8.2 earnings per share for the current fiscal year.

Insider Activity at East West Bancorp

In related news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares in the company, valued at $1,392,713.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at $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 13,346 shares of company stock worth $1,108,160 over the last quarter. 1.04% of the stock is currently owned by company insiders.

Institutional Trading of East West Bancorp

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in East West Bancorp by 10.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,845 shares of the financial services provider’s stock worth $6,917,000 after purchasing an additional 8,134 shares during the period. International Assets Investment Management LLC acquired a new position in East West Bancorp in the 3rd quarter worth approximately $3,142,000. Private Advisor Group LLC boosted its stake in East West Bancorp by 11.3% in the 3rd quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 462 shares during the period. RBA Wealth Management LLC boosted 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 worth $4,659,000 after purchasing an additional 397 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in East West Bancorp by 3.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 121,160 shares of the financial services provider’s stock worth $10,025,000 after purchasing an additional 3,488 shares during the period. 89.53% of the stock is currently owned by institutional investors.

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.