Shares of East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $141.9231.
A number of research analysts recently commented on EWBC shares. DA Davidson upped their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Piper Sandler raised their target price on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $152.00 price target on shares of East West Bancorp in a report on Wednesday. Stephens upped their price target on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, TD Cowen increased their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd.
Get Our Latest Research Report on East West Bancorp
East West Bancorp Stock Performance
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.02. The business had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 EPS. As a group, analysts anticipate that East West Bancorp will post 10.61 EPS for the current year.
East West Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a $0.80 dividend. The ex-dividend date was Monday, August 3rd. This represents a $3.20 annualized dividend and a yield of 2.5%. East West Bancorp’s dividend payout ratio is 30.77%.
Insider Buying and Selling at East West Bancorp
In other news, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total transaction of $135,020.00. Following the completion of the transaction, the director directly owned 13,709 shares in the company, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Irene H. Oh sold 800 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $133.19, for a total value of $106,552.00. Following the completion of the transaction, the insider directly owned 84,698 shares of the company’s stock, valued at $11,280,926.62. This trade represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,511 shares of company stock worth $4,312,741. 0.94% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Solstein Capital LLC bought a new stake in shares of East West Bancorp during the second quarter valued at about $27,000. Ancora Advisors LLC acquired a new stake in East West Bancorp in the second quarter worth about $27,000. Atlantic Union Bankshares Corp bought a new position in East West Bancorp in the 4th quarter valued at about $31,000. Kelleher Financial Advisors bought a new position in East West Bancorp in the 3rd quarter valued at about $31,000. Finally, Fiduciary Financial Advisors acquired a new position in East West Bancorp during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 89.53% of the company’s stock.
About East West Bancorp
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
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