East West Bancorp (EWBC) Downgraded by ValuEngine to Strong Sell

ValuEngine cut shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a strong sell rating in a report released on Thursday.

Several other equities research analysts have also weighed in on the stock. 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 research note 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. BidaskClub upgraded shares of East West Bancorp from a strong sell rating to a sell rating in a research note on Tuesday, October 30th. BMO Capital Markets dropped their price target on shares of East West Bancorp from $73.00 to $68.00 and set an outperform rating on the stock in a research note on Friday, October 19th. Finally, Wells Fargo & Co set a $76.00 price target on shares of East West Bancorp and gave the company a buy rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. East West Bancorp currently has a consensus rating of Hold and an average price target of $70.73.

EWBC opened at $44.60 on Thursday. The stock has a market cap of $6.47 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 0.92 and a beta of 1.38. East West Bancorp has a fifty-two week low of $44.42 and a fifty-two week high of $73.98. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.03. The firm had revenue of $395.22 million for the quarter, compared to analyst estimates of $398.25 million. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. During the same quarter in the prior year, the business earned $0.91 earnings per share. Sell-side analysts predict that East West Bancorp will post 4.63 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of East West Bancorp by 6.2% in the second quarter. Wells Fargo & Company MN now owns 215,757 shares of the financial services provider’s stock valued at $14,067,000 after purchasing an additional 12,651 shares during the period. BTIM Corp. boosted its holdings in shares of East West Bancorp by 2.3% in the third quarter. BTIM Corp. now owns 162,513 shares of the financial services provider’s stock valued at $9,810,000 after acquiring an additional 3,670 shares in the last quarter. Soros Fund Management LLC boosted its holdings in shares of East West Bancorp by 37.2% in the second quarter. Soros Fund Management LLC now owns 61,196 shares of the financial services provider’s stock valued at $3,990,000 after acquiring an additional 16,596 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in shares of East West Bancorp by 6.7% in the second quarter. Chartwell Investment Partners LLC now owns 34,659 shares of the financial services provider’s stock valued at $2,260,000 after acquiring an additional 2,167 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of East West Bancorp by 45.6% in the second quarter. Toronto Dominion Bank now owns 14,405 shares of the financial services provider’s stock valued at $939,000 after acquiring an additional 4,510 shares in the last quarter. Institutional investors own 87.86% 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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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