RBC Capital Upgrades East West Bancorp to Outperform (EWBC)

By admin | 6 years ago

East West Bancorp (NASDAQ: EWBC) was upgraded by equities researchers at RBC Capital (NYSE: RY) from a “sector perform” rating to an “outperform” rating in a report issued on Thursday.

Shares of East West Bancorp traded up 0.35% during mid-day trading on Thursday, hitting $23.06. East West Bancorp has a one year low of $13.94 and a one year high of $24.39. The company has a market cap of $3.352 billion and a P/E ratio of 13.67.

East West Bancorp last issued its quarterly earnings data on Tuesday, April 17th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. On average, analysts predict that East West Bancorp will post $0.47 earnings per share next quarter.

Separately, analysts at DA Davidson reiterated a “buy” rating on shares of East West Bancorp in a research note to investors on Thursday, April 19th. They now have a $27.00 price target on the stock.

East West Bancorp, Inc. (East West) is a bank holding company. The principal business of the Company is to serve as a holding company for the East West Bank (the Bank) and other banking or banking-related subsidiaries.

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