Bank of America names East West Bancorp top pick

What happened: Bank of America (BofA) named East West Bancorp (EWBC) its top pick in the banking sector on March 3, 2026. This follows EWBC's Q1 2026 earnings release on February 29, 2026, showing a 21.7% year-over-year increase in net income to $358 million, or $2.57 per share. Additionally, Morgan Stanley raised its price target on EWBC from $126 to $141 on March 2, 2026.

Market impact: This narrative positively impacts regional banks and financials, with EWBC's strong earnings and analyst upgrades driving investor confidence. The company's robust performance and bullish analyst sentiment may lead to a revaluation of other regional banks, attracting investors seeking growth opportunities.

What to watch next: EWBC's Q2 2026 earnings release, scheduled for May 2026, will provide further insight into the company's growth trajectory. Additionally, investors should monitor any changes in BofA's and Morgan Stanley's ratings or price targets for EWBC, which could influence market sentiment. Lastly, keep an eye on broader economic indicators, as they may impact EWBC's loan portfolio and overall performance.