East West Bancorp (NASDAQ:EWBC) Stock Rating Lowered by Raymond James

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Raymond James cut shares of East West Bancorp (NASDAQ:EWBC) from a market perform rating to an underperform rating in a research report sent to investors on Monday, BenzingaRatingsTable reports.

EWBC has been the topic of a number of other reports. Morgan Stanley raised shares of Dongfeng Motor Group from an equal weight rating to an overweight rating in a research note on Monday, July 1st. Zacks Investment Research raised shares of Booz Allen Hamilton from a hold rating to a buy rating and set a $71.00 price target on the stock in a research note on Friday, June 28th. Wedbush reissued a buy rating and issued a $35.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, June 3rd. BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Finally, ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $61.38.

Shares of EWBC stock opened at $45.86 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $45.05. East West Bancorp has a 12 month low of $40.05 and a 12 month high of $68.06. The stock has a market capitalization of $6.57 billion, a P/E ratio of 9.63, a PEG ratio of 0.98 and a beta of 1.62.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). East West Bancorp had a return on equity of 15.78% and a net margin of 35.42%. The firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $411.11 million. During the same period last year, the firm earned $1.13 earnings per share. As a group, analysts anticipate that East West Bancorp will post 4.93 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of East West Bancorp by 1.4% in the first quarter. BlackRock Inc. now owns 15,631,046 shares of the financial services provider’s stock valued at $749,821,000 after purchasing an additional 210,275 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of East West Bancorp by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 4,923,380 shares of the financial services provider’s stock valued at $236,175,000 after purchasing an additional 14,063 shares in the last quarter. Boston Partners grew its holdings in shares of East West Bancorp by 2.1% in the first quarter. Boston Partners now owns 4,682,285 shares of the financial services provider’s stock valued at $224,610,000 after purchasing an additional 94,548 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of East West Bancorp by 132.7% in the first quarter. William Blair Investment Management LLC now owns 3,757,889 shares of the financial services provider’s stock valued at $180,266,000 after purchasing an additional 2,142,829 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of East West Bancorp by 3.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,584,601 shares of the financial services provider’s stock valued at $156,037,000 after purchasing an additional 119,282 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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