East West Bancorp (EWBC) Receives a Rating Update from a Top Analyst
Bank of America Securities analyst Ebrahim Poonawala maintained a Buy rating on East West Bancorp yesterday. The company’s shares closed yesterday at $116.48.
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According to TipRanks, Poonawala is a top 100 analyst with an average return of 18.2% and a 75.83% success rate. Poonawala covers the Financial sector, focusing on stocks such as Citizens Financial, Citigroup, and Fifth Third Bancorp.
East West Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $131.13, implying a 12.58% upside from current levels. In a report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $141.00 price target.
Based on East West Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.25 billion and a net profit of $368.39 million. In comparison, last year the company earned a revenue of $1.15 billion and had a net profit of $299.17 million
Based on the recent corporate insider activity of 49 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. Last month, Irene Oh, the CRO of EWBC sold 7,453.00 shares for a total of $848,896.70.
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