East West Bancorp, Inc. (EWBC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of East West Bancorp, Inc. (NASDAQ:EWBC) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

A number of other equities analysts have also recently weighed in on EWBC. BidaskClub cut shares of East West Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies set a $68.00 price target on shares of East West Bancorp and gave the stock a buy rating in a research report on Saturday, June 17th. Morgan Stanley lifted their price target on shares of East West Bancorp from $57.00 to $59.00 and gave the stock an equal weight rating in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods reissued a hold rating and set a $57.00 price target on shares of East West Bancorp in a research report on Monday, May 22nd. Finally, Wedbush reissued an outperform rating and set a $68.00 price target on shares of East West Bancorp in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $62.88.

Shares of East West Bancorp (NASDAQ EWBC) traded up 0.09% during mid-day trading on Tuesday, reaching $55.50. 281,167 shares of the company’s stock traded hands. The company’s 50 day moving average is $55.86 and its 200-day moving average is $55.34. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 15.85 and a beta of 1.43. East West Bancorp has a 52 week low of $35.52 and a 52 week high of $60.42.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $337.49 million for the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period last year, the firm earned $0.71 earnings per share. Equities analysts expect that East West Bancorp will post $3.74 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. increased its stake in East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after buying an additional 26 shares during the last quarter. Cadence Capital Management LLC increased its stake in East West Bancorp by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock valued at $343,000 after buying an additional 60 shares during the last quarter. Wright Investors Service Inc. increased its stake in East West Bancorp by 0.6% in the 2nd quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock valued at $829,000 after buying an additional 90 shares during the last quarter. Utah Retirement Systems increased its stake in East West Bancorp by 0.4% in the 2nd quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock valued at $1,540,000 after buying an additional 100 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC increased its stake in East West Bancorp by 1.3% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock valued at $606,000 after buying an additional 129 shares during the last quarter. 91.34% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

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