East West Bancorp (NASDAQ:EWBC) Sets New 1-Year High – Still a Buy?

East West Bancorp, Inc. (NASDAQ:EWBC) shares reached a new 52-week high during trading on Monday . The company traded as high as $127.54 and last traded at $127.09, with a volume of 155511 shares changing hands. The stock had previously closed at $125.94.

Analyst Ratings Changes

A number of research firms recently commented on EWBC. TD Cowen upped their price objective on East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 price objective on shares of East West Bancorp in a report on Wednesday, April 22nd. UBS Group upped their price objective on East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Citigroup upped their price objective on East West Bancorp from $139.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, DA Davidson upped their price objective on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, East West Bancorp has an average rating of “Moderate Buy” and a consensus target price of $133.69.

East West Bancorp Stock Up 0.6%

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $119.01 and a 200 day simple moving average of $114.73. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.54 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The company had revenue of $773.75 million for the quarter, compared to analysts’ expectations of $767.80 million. During the same period in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, May 4th. East West Bancorp’s dividend payout ratio is 31.97%.

Insiders Place Their Bets

In other news, Director Archana Deskus sold 1,800 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the sale, the director owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the sale, the insider directly owned 46,974 shares in the company, valued at $5,801,289. This represents a 17.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,800 shares of company stock worth $5,165,690 over the last ninety days. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of East West Bancorp

Large investors have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of East West Bancorp during the third quarter worth $26,000. Atlantic Union Bankshares Corp purchased a new position in shares of East West Bancorp during the fourth quarter worth about $31,000. Kelleher Financial Advisors purchased a new position in shares of East West Bancorp during the third quarter worth about $31,000. Signaturefd LLC grew its holdings in shares of East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors 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.