On Oct 23, major Wall Street analysts update their ratings for $East West Bancorp (EWBC.US)$, with price targets ranging from $95 to $110.
Morgan Stanley analyst Manan Gosalia maintains with a buy rating, and maintains the target price at $106.
Citi analyst Ben Gerlinger maintains with a buy rating, and adjusts the target price from $87 to $109.
Barclays analyst Jared Shaw maintains with a buy rating, and adjusts the target price from $108 to $110.
Wells Fargo analyst Timur Braziler maintains with a buy rating, and adjusts the target price from $97 to $105.
Wedbush analyst David Chiaverini maintains with a buy rating, and adjusts the target price from $100 to $110.
Furthermore, according to the comprehensive report, the opinions of $East West Bancorp (EWBC.US)$'s main analysts recently are as follows:
The bank's third quarter performance and growth forecasts have surpassed expectations. Despite a near-term projection of only a slight increase in growth for the next few quarters, the bank's asset-sensitive balance sheet is expected to sustain the net interest margin at the present levels.
The bank's net interest income outlook is supported by spot rates on deposits and positive balance sheet trends, while management is focused on enhancing capital to leading industry levels.
East West Bancorp reported a solid quarter and maintained its guidance for FY24. The company saw deposit growth exceeding expectations, primarily due to an increase in interest-bearing deposits.
East West Bancorp's net interest income exceeded expectations, along with a more favorable guide for Q4, leading to an improved year-end exit-rate and positive forecast revisions for future earnings. The company is identified as offering superior value when considering its profitability, excess capital, and growth prospects.
Here are the latest investment ratings and price targets for $East West Bancorp (EWBC.US)$ from 8 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
