KBW Sticks to Its Hold Rating for East West Bancorp

By Carrie Williams

KBW analyst Christopher Mcgratty reiterated a Hold rating on East West Bancorp (NASDAQ: EWBC) today and set a price target of $57. The company’s shares opened today at $56.21, close to its 52-week high of $59.97.

According to TipRanks.com, Mcgratty is a 5-star analyst with an average return of 12.3% and a 67.1% success rate. Mcgratty covers the Financial sector, focusing on stocks such as Univest Corporation Of Pennsylvania, Enterprise Financial Services Corp, and Western New England Bancorp Inc.

East West Bancorp has an analyst consensus of Strong Buy, with a price target consensus of $62.75.

Based on East West Bancorp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $342 million and quarterly net profit of $170 million. In comparison, last year the company earned revenue of $315 million and had a net profit of $108 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. Last month, Molly Campbell, a Director at EWBC sold 590 shares for a total of $32,999.

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. operates as a bank holding company, which engages in the personal and business checking savings accounts, time deposits and individual retirement accounts, travelers checks, safe deposit boxes, MasterCard and visa merchant deposit services for East West Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Other. The Retail Banking segment focuses on retail operations through the bank’s branch network. The Commercial Banking segment includes commercial, industrial and commercial real estate, that generates commercial loans through the domestic commercial lending. The Other segment includes treasury. The company was founded on August 26, 1998 and is headquartered in Pasadena, CA.,0026S8-E