Zacks Investment Research upgraded East West Bancorp, Inc. (NASDAQ:EWBC) to Hold in a report released today.
- Updated: October 15, 2016
Zacks Investment Research has upgraded East West Bancorp, Inc. (NASDAQ:EWBC) to Hold in a report released on Wednesday October 12, 2016.
Yesterday East West Bancorp, Inc. (NASDAQ:EWBC) traded 1.18% higher at $39.40. The company’s 50-day moving average is $36.98 and its 200-day moving average is $35.78. The last stock close price is up 7.78% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 816,498 shares of the stock were exchanged, down from an average trading volume of 877,788
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East West Bancorp, Inc. has a 52 week low of $27.25 and a 52 week high of $43.94 with a P/E ratio of 14.12 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 12 firms have reported on the stock. The consensus target price is $41.67 with 2 firms rating the stock a strong buy, 8 firms rating the stock a buy, 4 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About East West Bancorp, Inc. (NASDAQ:EWBC)
East West Bancorp, Inc. (East West) is a bank holding company. The Company's principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank's branch network. The Commercial Banking segment primarily generates commercial and industrial loans (C&I) and commercial real estate (CRE) loans through the domestic commercial lending offices located in California, New York, Texas, Washington, Massachusetts, Nevada and Georgia, and through the foreign commercial lending offices located in China and Hong Kong. Furthermore, the Commercial Banking segment also offers international finance and trade services and products. The remaining centralized functions, including the treasury operations of the Company are included in the Other segment.
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