SunTrust Robinson Sticks to Their Buy Rating for East West Bancorp

By Carrie Williams

In a report issued on October 10, Jennifer Demba from SunTrust Robinson reiterated a Buy rating on East West Bancorp (NASDAQ: EWBC), with a price target of $65. The company’s shares opened today at $60.09, close to its 52-week high of $60.74.

According to TipRanks.com, Demba is a 5-star analyst with an average return of 11.1% and a 85.0% success rate. Demba covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, Pinnacle Financial Partners, and Atlantic Capital Bancshares.

East West Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $62.20.

The company has a one-year high of $60.74 and a one-year low of $37.75. Currently, East West Bancorp has an average volume of 730.6K.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.

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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 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 operations. The company was founded on August 26, 1998 and is headquartered in Pasadena, CA.