In a report released today, Ken Zerbe from Morgan Stanley maintained a Buy rating on East West Bancorp (EWBC), with a price target of $54.00. The company’s shares closed last Monday at $42.09.
According to TipRanks.com, Zerbe is a 3-star analyst with an average return of 2.1% and a 52.6% success rate. Zerbe covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, People’s United Financial, and Commerce Bancshares Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for East West Bancorp with a $53.80 average price target, which is a 29.6% upside from current levels. In a report issued on October 17, Piper Jaffray also maintained a Buy rating on the stock with a $62.00 price target.
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East West Bancorp’s market cap is currently $6.13B and has a P/E ratio of 9.33. The company has a Price to Book ratio of 1.25.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.
