Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been assigned an average recommendation of “Buy” from the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $72.42.
A number of equities research analysts recently weighed in on EWBC shares. ValuEngine cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. DA Davidson cut their price objective on shares of East West Bancorp from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 24th. BidaskClub cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Deutsche Bank lifted their price objective on shares of East West Bancorp from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 4th. Finally, Morgan Stanley lifted their price objective on shares of East West Bancorp from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 24th.
Shares of East West Bancorp traded down $0.10, reaching $70.18, during midday trading on Thursday, according to MarketBeat.com. 845,400 shares of the company traded hands, compared to its average volume of 895,147. East West Bancorp has a 52 week low of $52.86 and a 52 week high of $73.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a market cap of $10.34 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.50 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.13. East West Bancorp had a net margin of 32.46% and a return on equity of 14.15%. The business had revenue of $401.14 million for the quarter, compared to analysts’ expectations of $364.81 million. During the same period in the previous year, the business earned $0.88 earnings per share. sell-side analysts anticipate that East West Bancorp will post 4.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, April 30th. East West Bancorp’s payout ratio is currently 23.12%.
In related news, CFO Irene H. Oh sold 5,000 shares of East West Bancorp stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $72.99, for a total transaction of $364,950.00. Following the transaction, the chief financial officer now directly owns 40,672 shares of the company’s stock, valued at $2,968,649.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dominic Ng sold 5,771 shares of East West Bancorp stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $71.78, for a total value of $414,242.38. Following the transaction, the chief executive officer now directly owns 436,993 shares in the company, valued at $31,367,357.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,578 shares of company stock worth $8,179,557. 0.68% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Delpha Capital Management LLC acquired a new position in East West Bancorp during the first quarter worth about $222,000. Signition LP purchased a new position in East West Bancorp in the 4th quarter worth about $239,000. Gideon Capital Advisors Inc. purchased a new position in East West Bancorp in the 1st quarter worth about $280,000. Susquehanna Fundamental Investments LLC purchased a new position in East West Bancorp in the 1st quarter worth about $331,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in East West Bancorp by 107.4% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 2,900 shares in the last quarter. 89.72% of the stock is currently owned by hedge funds and other institutional investors.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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