Truist analyst David Smith raised the firm’s price target on East West Bancorp (EWBC) to $112 from $110 and keeps a Hold rating on the shares as part of a broader research note on Regional Banks. Investor preference is still very skewed toward bigger bank stocks right now as the deregulatory benefits are more obvious for bigger banks, while capital markets remain strong and could get even more robust with lower rates, the analyst tells investors in a research note. Better reception for M&A has been the most widely cited catalyst for a catchup for regional bank stocks, along with curve steepening and accelerating loan and deposit growth, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EWBC:
- East West Bancorp price target raised to $145 from $140 at Barclays
- East West Bancorp price target raised to $126 from $111 at Morgan Stanley
- East West Bancorp initiated with a Buy at TD Cowen
- Cantor starts U.S. banks with ‘constructive view,’ names Citizens as top pick
- East West Bancorp initiated with an Overweight at Cantor Fitzgerald