East West Bancorp (EWBC) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 44 from a previous price target of $42 . Barclays advised their investors in a research report released on Apr 22, 2016.
On the company’s financial health, East West Bancorp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.67.Analysts expectations of $ 290.63.During the same quarter in the previous year, the company posted $0.69 EPS.
East West Bancorp opened for trading at $37.1 and hit $40 on the upside on Wednesday, eventually ending the session at $37.42, with a gain of 3.26% or 1.18 points. The heightened volatility saw the trading volume jump to 24,35,510 shares. Company has a market cap of $5,385 M.
In a different news, on Mar 2, 2016, Julia S Gouw (President) sold 44,629 shares at $30.53 per share price. According to the SEC, on Dec 3, 2015, Douglas Paul Krause (Executive Vice President) sold 20,000 shares at $43.55 per share price. On Mar 16, 2015, John Lee (director) sold 50,000 shares at $40.80 per share price, according to the Form-4 filing with the securities and exchange commission.
East West Bancorp Inc. (East West) is a bank holding company. East Wests principal business is to serve as a holding company for East West Bank (Bank) and other banking or banking-related subsidiaries. The Bank offers deposit products including the traditional range of personal and business checking and savings accounts time deposits and individual retirement accounts travelers checks safe deposit boxes and MasterCard and Visa merchant deposit services. The Banks lending activities include commercial and residential real estate construction trade finance and commercial business including accounts receivable small business administration (SBA) inventory and working capital loans. The Bank provides commercial business loans to small and medium-sized businesses. In addition the Bank is focused on providing financing to clients needing a financial bridge that facilitates their business transactions between Asia and the United States.