Compass Point Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $125.00

East West Bancorp (NASDAQ:EWBC) had its price target boosted by stock analysts at Compass Point from $110.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Compass Point’s target price indicates a potential upside of 18.90% from the company’s previous close.

Several other brokerages have also issued reports on EWBC. Barclays lifted their price target on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup boosted their price objective on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Stephens downgraded shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday. Finally, Piper Sandler lifted their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.17.

East West Bancorp Trading Up 1.5 %

Shares of NASDAQ:EWBC opened at $105.13 on Tuesday. East West Bancorp has a 52-week low of $67.03 and a 52-week high of $113.95. The company has a market capitalization of $14.57 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 3.06 and a beta of 1.28. The company has a 50-day simple moving average of $99.15 and a 200 day simple moving average of $85.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92.

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

Insider Activity

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

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWBC. Jupiter Asset Management Ltd. purchased a new stake in shares of East West Bancorp in the second quarter worth about $59,460,000. Millennium Management LLC boosted its stake in East West Bancorp by 152.1% in the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock valued at $27,404,000 after acquiring an additional 225,799 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in East West Bancorp by 30.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock valued at $47,578,000 after purchasing an additional 152,334 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of East West Bancorp by 39.9% during the third quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock worth $43,079,000 after purchasing an additional 148,530 shares during the last quarter. Finally, FMR LLC boosted its position in East West Bancorp by 1.8% in the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after purchasing an additional 136,528 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

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.