East West Bancorp, Inc. (NASDAQ:EWBC) Plans Quarterly Dividend of $0.60

East West Bancorp, Inc. (NASDAQ:EWBC) declared a quarterly dividend on Tuesday, October 21st. Investors of record on Monday, November 3rd will be paid a dividend of 0.60 per share by the financial services provider on Monday, November 17th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, November 3rd.

East West Bancorp has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect East West Bancorp to earn $9.56 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 25.1%.

East West Bancorp Price Performance

Shares of EWBC opened at $102.36 on Thursday. East West Bancorp has a twelve month low of $68.27 and a twelve month high of $113.95. The stock’s 50 day moving average is $104.96 and its two-hundred day moving average is $97.66. The firm has a market capitalization of $14.11 billion, a PE ratio of 11.29, a P/E/G ratio of 1.34 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. East West Bancorp had a return on equity of 15.85% and a net margin of 27.16%.The company had revenue of $627.36 million for the quarter. Research analysts anticipate that East West Bancorp will post 8.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EWBC shares. Truist Financial set a $112.00 price objective on East West Bancorp in a report on Friday, October 10th. Cantor Fitzgerald started coverage on East West Bancorp in a report on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of East West Bancorp in a report on Wednesday, October 8th. Wall Street Zen raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, TD Cowen started coverage on East West Bancorp in a research note on Thursday, September 25th. They set a “buy” rating and a $139.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $122.14.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.