A number of other equities research analysts have also recently weighed in on the company. SunTrust Banks reduced their price objective on East West Bancorp from $55.00 to $54.00 and set a buy rating for the company in a research note on Thursday, October 3rd. Raymond James downgraded East West Bancorp from a market perform rating to an underperform rating in a report on Tuesday, October 8th. BMO Capital Markets lowered shares of East West Bancorp from an outperform rating to a market perform rating and lowered their target price for the stock from $51.00 to $44.00 in a research report on Monday, August 19th. Wedbush cut their target price on shares of East West Bancorp from $55.00 to $51.00 and set an outperform rating on the stock in a report on Friday, October 18th. Finally, Morgan Stanley reduced their price target on shares of East West Bancorp from $55.00 to $54.00 and set an overweight rating for the company in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $53.43.
Shares of EWBC traded up $0.92 during midday trading on Tuesday, reaching $46.57. 895,665 shares of the stock were exchanged, compared to its average volume of 970,728. The business’s 50-day moving average price is $44.56 and its 200 day moving average price is $44.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01. East West Bancorp has a twelve month low of $37.69 and a twelve month high of $56.09. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.96 and a beta of 1.68.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.03). The firm had revenue of $421.28 million during the quarter, compared to analysts’ expectations of $418.32 million. East West Bancorp had a net margin of 31.98% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, equities research analysts expect that East West Bancorp will post 4.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, October 31st. East West Bancorp’s dividend payout ratio is currently 23.61%.
Hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its position in East West Bancorp by 130.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,446,685 shares of the financial services provider’s stock worth $67,662,000 after acquiring an additional 817,822 shares during the period. Synovus Financial Corp grew its stake in shares of East West Bancorp by 3.5% in the 3rd quarter. Synovus Financial Corp now owns 9,004 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 304 shares during the last quarter. Barclays PLC grew its stake in shares of East West Bancorp by 5.7% in the 3rd quarter. Barclays PLC now owns 114,775 shares of the financial services provider’s stock valued at $5,083,000 after purchasing an additional 6,223 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of East West Bancorp by 63.1% in the second quarter. Cullen Frost Bankers Inc. now owns 1,592 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 616 shares during the period. Finally, GW Henssler & Associates Ltd. increased its holdings in shares of East West Bancorp by 15.9% in the second quarter. GW Henssler & Associates Ltd. now owns 9,900 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 1,358 shares during the period. Hedge funds and other institutional investors own 87.63% 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.
Featured Article: What causes a recession?
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.