East West Bancorp (EWBC) : The consensus on East West Bancorp (EWBC) based on 11 analyst recommendation on the company stock is 1.73, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 7 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
East West Bancorp (EWBC) stock is expected to deviate a maximum of $2.24 from the average target price of $41.44 for the short term period. 9 Street Experts have initiated coverage on the stock with the most promising target being $46 and the most muted being $38.
Also, In the latest statement by the brokerage house, Macquarie upgrades its outlook on East West Bancorp (NASDAQ:EWBC). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on July 22, 2016.
East West Bancorp (NASDAQ:EWBC): After opening at $35.67, the stock dipped to an intraday low of $35.6545 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $36.11 and the buying power remained strong till the end. The stock closed at $36 for the day, a gain of 0.98% for the day session. The total traded volume was 521,104. The stocks close on the previous trading day was $35.65.
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.