ValuEngine Downgrades East West Bancorp (EWBC) to Strong Sell

ValuEngine cut shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a strong sell rating in a research note published on Monday morning, ValuEngine reports.

Several other brokerages have also issued reports on EWBC. BidaskClub raised shares of East West Bancorp from a hold rating to a buy rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded shares of East West Bancorp from a sell rating to a hold rating in a report on Wednesday, April 24th. Finally, TheStreet upgraded shares of East West Bancorp from a c+ rating to a b rating in a report on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. East West Bancorp currently has an average rating of Hold and an average target price of $64.63.

NASDAQ:EWBC opened at $47.88 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. East West Bancorp has a 52 week low of $40.05 and a 52 week high of $73.98. The firm has a market capitalization of $6.90 billion, a PE ratio of 10.27, a PEG ratio of 0.90 and a beta of 1.55.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.06). The firm had revenue of $404.59 million during the quarter, compared to the consensus estimate of $411.11 million. East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. During the same period in the prior year, the company posted $1.13 earnings per share. Equities research analysts forecast that East West Bancorp will post 4.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Tuesday, April 30th. This is an increase from East West Bancorp’s previous quarterly dividend of $0.23. East West Bancorp’s dividend payout ratio (DPR) is 23.61%.

In other East West Bancorp news, Director Jack C. Liu sold 2,108 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $55.20, for a total transaction of $116,361.60. Following the completion of the transaction, the director now owns 18,857 shares in the company, valued at $1,040,906.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of EWBC. Berman Capital Advisors LLC boosted its position in shares of East West Bancorp by 170.4% in the first quarter. Berman Capital Advisors LLC now owns 622 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 392 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of East West Bancorp by 44.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 208 shares during the period. SeaBridge Investment Advisors LLC bought a new position in shares of East West Bancorp in the fourth quarter valued at approximately $30,000. Gemmer Asset Management LLC boosted its position in shares of East West Bancorp by 69.6% in the first quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 293 shares during the period. Finally, Icon Wealth Partners LLC bought a new position in shares of East West Bancorp in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

East West Bancorp Company Profile

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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