In a report released today, Ken Zerbe from Morgan Stanley maintained a Hold rating on East West Bancorp (EWBC), with a price target of $61. The company’s shares closed yesterday at $47.14, close to its 52-week low of $46.61.
According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 9.9% and a 60.0% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Huntington Bancshares Inc, and People’s United Financial.
Currently, the analyst consensus on East West Bancorp is a Strong Buy with an average price target of $69.57.
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Based on East West Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $171 million. In comparison, last year the company had a net profit of $133 million.
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East West Bancorp, Inc. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Commercial Banking, and Other. The Retail Banking segment focuses on retail operations through the bank’s branch network.