East West Bancorp (NASDAQ:EWBC) Lowered to Underperform at Raymond James

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East West Bancorp (NASDAQ:EWBC) was downgraded by equities researchers at Raymond James from a “market perform” rating to an “underperform” rating in a research note issued on Monday, MarketBeat Ratings reports.

Several other equities research analysts also recently issued reports on EWBC. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, March 12th. ValuEngine downgraded East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Finally, BidaskClub downgraded East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $61.38.

Shares of East West Bancorp stock opened at $45.97 on Monday. The firm’s fifty day simple moving average is $45.11. East West Bancorp has a 1 year low of $40.05 and a 1 year high of $68.09. The firm has a market cap of $6.86 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. The business had revenue of $404.59 million for the quarter, compared to analyst estimates of $411.11 million. During the same period in the prior year, the business earned $1.13 EPS. As a group, sell-side analysts expect that East West Bancorp will post 4.94 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in East West Bancorp by 1.4% during the 1st quarter. BlackRock Inc. now owns 15,631,046 shares of the financial services provider’s stock worth $749,821,000 after buying an additional 210,275 shares during the period. JPMorgan Chase & Co. increased its position in East West Bancorp by 0.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,923,380 shares of the financial services provider’s stock worth $236,175,000 after buying an additional 14,063 shares during the period. Boston Partners increased its position in East West Bancorp by 2.1% during the 1st quarter. Boston Partners now owns 4,682,285 shares of the financial services provider’s stock worth $224,610,000 after buying an additional 94,548 shares during the period. William Blair Investment Management LLC increased its position in East West Bancorp by 132.7% during the 1st quarter. William Blair Investment Management LLC now owns 3,757,889 shares of the financial services provider’s stock worth $180,266,000 after buying an additional 2,142,829 shares during the period. Finally, Macquarie Group Ltd. increased its position in East West Bancorp by 3.4% during the 4th quarter. Macquarie Group Ltd. now owns 3,584,601 shares of the financial services provider’s stock worth $156,037,000 after buying an additional 119,282 shares during the period. Hedge funds and other institutional investors own 88.81% 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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