In a report released today, Ken Zerbe from Morgan Stanley maintained a Buy rating on East West Bancorp (EWBC), with a price target of $64.00. The company’s shares closed last Thursday at $57.50.
According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 10.3% and a 58.0% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.
Currently, the analyst consensus on East West Bancorp is a Moderate Buy with an average price target of $54.33.
See today’s analyst top recommended stocks >>
Based on East West Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $371 million and net profit of $160 million. In comparison, last year the company earned revenue of $418 million and had a net profit of $171 million.
Based on the recent corporate insider activity of 21 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
