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East West Bancorp (EWBC) Gets a Buy Rating from Jefferies

In a report issued on January 31, Casey Haire from Jefferies maintained a Buy rating on East West Bancorp (EWBCResearch Report), with a price target of $103.00. The company’s shares closed last Monday at $88.42, close to its 52-week high of $91.70.

According to TipRanks.com, Haire is a 5-star analyst with an average return of 17.2% and a 71.4% success rate. Haire covers the Financial sector, focusing on stocks such as Svb Financial Group, First Republic Bank, and Webster Financial.

East West Bancorp has an analyst consensus of Strong Buy, with a price target consensus of $104.17, implying a 17.8% upside from current levels. In a report issued on January 28, Wedbush also reiterated a Buy rating on the stock with a $100.00 price target.

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Based on East West Bancorp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $473 million and net profit of $218 million. In comparison, last year the company earned revenue of $413 million and had a net profit of $164 million.

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East West Bancorp, Inc. is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S. The Commercial Banking segment primarily generates commercial loans and deposits through commercial lending offices located in the U.S. and Greater China. The Other segment includes treasury activities of the company and elimination of inter-segment amounts. The company was founded on August 26, 1998 and is headquartered in Pasadena, CA.

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