East West Bancorp (EWBC) Rating Lowered to Strong Sell at ValuEngine

East West Bancorp (NASDAQ:EWBC) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Thursday, March 21st, ValuEngine reports.

A number of other equities research analysts have also commented on the stock. TheStreet upgraded shares of East West Bancorp from a “c+” rating to a “b” rating in a report on Thursday, February 7th. Morgan Stanley dropped their price objective on shares of East West Bancorp from $67.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 11th. DA Davidson upgraded shares of East West Bancorp from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 27th. Wedbush lifted their price target on shares of East West Bancorp from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Finally, BidaskClub downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.70.

Shares of EWBC traded down $1.19 during mid-day trading on Thursday, hitting $50.94. 606,358 shares of the company traded hands, compared to its average volume of 891,215. East West Bancorp has a one year low of $40.05 and a one year high of $73.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $7.56 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 0.95 and a beta of 1.54.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. The firm had revenue of $411.11 million for the quarter, compared to analysts’ expectations of $408.61 million. East West Bancorp had a net margin of 37.78% and a return on equity of 16.26%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. As a group, analysts anticipate that East West Bancorp will post 5.09 EPS for the current year.

In other East West Bancorp news, Director Jack C. Liu sold 2,108 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $55.20, for a total transaction of $116,361.60. Following the sale, the director now directly owns 18,857 shares of the company’s stock, valued at approximately $1,040,906.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rudolph Estrada sold 1,902 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $52.64, for a total transaction of $100,121.28. Following the sale, the director now directly owns 15,089 shares in the company, valued at $794,284.96. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of EWBC. SeaBridge Investment Advisors LLC bought a new position in East West Bancorp during the fourth quarter worth $30,000. JOYN Advisors Inc. raised its holdings in East West Bancorp by 6,200.0% during the fourth quarter. JOYN Advisors Inc. now owns 1,071 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,054 shares during the last quarter. First Mercantile Trust Co. raised its holdings in East West Bancorp by 643.8% during the fourth quarter. First Mercantile Trust Co. now owns 1,190 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,030 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in East West Bancorp by 4,203.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,209,902 shares of the financial services provider’s stock worth $74,000 after buying an additional 3,135,320 shares during the last quarter. Finally, National Pension Service raised its holdings in East West Bancorp by 138.4% during the third quarter. National Pension Service now owns 2,148 shares of the financial services provider’s stock worth $130,000 after buying an additional 1,247 shares during the last quarter. 88.58% of the stock is currently owned by institutional investors.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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