Morgan Stanley analyst Ken Zerbe maintained a Buy rating on East West Bancorp (EWBC) today and set a price target of $45.00. The company’s shares closed last Wednesday at $32.55.
According to TipRanks.com, Zerbe is a 1-star analyst with an average return of -3.8% and a 44.2% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.
East West Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $33.25, which is a -1.1% downside from current levels. In a report issued on April 23, Wedbush also maintained a Buy rating on the stock with a $34.00 price target.
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Based on East West Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $413 million and net profit of $145 million. In comparison, last year the company earned revenue of $401 million and had a net profit of $164 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EWBC in relation to earlier this year.
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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 business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S. The Commercial Banking segment primarily generates commercial loans and deposits through commercial lending offices located in the U.S. and Greater China. The Other segment includes treasury activities of the company and elimination of inter-segment amounts. The company was founded on August 26, 1998 and is headquartered in Pasadena, CA.
