Shares of East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) have earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $89.33.
A number of equities analysts recently issued reports on the company. Barclays reduced their target price on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Wedbush lifted their target price on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group dropped their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Piper Sandler raised their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th.
View Our Latest Stock Report on East West Bancorp
Insider Activity
Institutional Trading of East West Bancorp
A number of hedge funds have recently bought and sold shares of EWBC. Miller Howard Investments Inc. NY acquired a new stake in shares of East West Bancorp in the first quarter valued at approximately $39,347,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of East West Bancorp in the 1st quarter worth $3,961,000. Manning & Napier Advisors LLC purchased a new position in shares of East West Bancorp during the 2nd quarter worth $3,832,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of East West Bancorp by 193.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,005 shares of the financial services provider’s stock valued at $1,224,000 after acquiring an additional 11,208 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of East West Bancorp by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 377,176 shares of the financial services provider’s stock valued at $27,138,000 after purchasing an additional 46,416 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.
East West Bancorp Price Performance
Shares of EWBC stock opened at $82.57 on Friday. East West Bancorp has a fifty-two week low of $49.59 and a fifty-two week high of $89.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.65 and a beta of 1.29. The stock’s 50-day simple moving average is $81.35 and its 200-day simple moving average is $76.89.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. East West Bancorp’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. As a group, equities analysts forecast that East West Bancorp will post 8.2 earnings per share for the current fiscal year.
East West Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.
About East West Bancorp
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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