Macquarie Upgrades East West Bancorp to Outperform

Brokerage firm Macquarie Upgrades its rating on East West Bancorp(NASDAQ:EWBC). The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Macquarie was issued on Jul 22, 2016.

In a different note, On Apr 28, 2016, Keefe Bruyette & Woods said it Downgrades its rating on East West Bancorp. In the research note, the firm Lowers the price-target to $44.00 per share. The shares have been rated ‘Market Perform’ by the firm.

East West Bancorp (EWBC) shares turned negative on Thursdays trading session with the shares closing down -0.18 points or -0.52% at a volume of 7,85,674. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $34.66. The peak price level was also seen at $34.66 while the days lowest was $33.94. Finally the shares closed at $34.44. The 52-week high of the shares is $45.67 while the 52-week low is $27.25. According to the latest information available, the market cap of the company is $4,963 M.

East West Bancorp(EWBC) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $253.58M. Analysts had an estimated revenue of $264.81M. Earnings per share were $0.71. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On May 16, 2016, Wendy H Cai-lee (Executive Vice President) sold 1,200 shares at $36.37 per share price.Also, On Mar 2, 2016, Julia S Gouw (President) sold 44,629 shares at $30.53 per share price.On Dec 3, 2015, Douglas Paul Krause (Executive Vice President) sold 20,000 shares at $43.55 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 West’s 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 Bank’s 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.

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