East West Bancorp (NASDAQ:EWBC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, BidAskClub reports.

EWBC has been the subject of a number of other research reports. SunTrust Banks upped their target price on East West Bancorp from $220.00 to $260.00 in a research report on Tuesday, June 30th. Morgan Stanley increased their price objective on East West Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Keefe, Bruyette & Woods lowered East West Bancorp from an “outperform” rating to a “market perform” rating and set a $34.00 target price for the company. in a research note on Wednesday, April 1st. Wells Fargo & Co restated a “hold” rating and issued a $33.00 target price (up from $31.00) on shares of East West Bancorp in a research note on Tuesday, July 7th. Finally, DA Davidson upped their target price on East West Bancorp from $33.00 to $37.00 in a research note on Friday, June 19th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $63.78.

NASDAQ EWBC traded down $0.26 on Thursday, reaching $34.66. The company’s stock had a trading volume of 915,328 shares, compared to its average volume of 763,686. East West Bancorp has a twelve month low of $22.55 and a twelve month high of $51.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $4.90 billion, a PE ratio of 8.33, a PEG ratio of 0.95 and a beta of 2.03. The firm’s 50 day moving average is $35.47 and its two-hundred day moving average is $36.73.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). East West Bancorp had a net margin of 29.90% and a return on equity of 12.18%. The business had revenue of $402.41 million during the quarter, compared to analyst estimates of $390.87 million. During the same quarter in the prior year, the company earned $1.12 EPS. East West Bancorp’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts anticipate that East West Bancorp will post 3.69 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Arden Trust Co bought a new position in East West Bancorp in the first quarter valued at about $38,000. NN Investment Partners Holdings N.V. bought a new position in East West Bancorp during the second quarter worth about $77,000. Private Capital Group LLC boosted its holdings in East West Bancorp by 39.1% during the first quarter. Private Capital Group LLC now owns 2,160 shares of the financial services provider’s stock worth $56,000 after buying an additional 607 shares during the last quarter. Smithfield Trust Co. boosted its holdings in East West Bancorp by 2,775.0% during the first quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider’s stock worth $59,000 after buying an additional 2,220 shares during the last quarter. Finally, Pendal Group Ltd boosted its holdings in East West Bancorp by 65.7% during the first quarter. Pendal Group Ltd now owns 3,062 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 87.61% 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 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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