East West Bancorp, Inc. (NASDAQ:EWBC) Receives $84.08 Average Target Price from Brokerages

Shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $84.08.

Several research analysts recently issued reports on EWBC shares. Barclays started coverage on shares of East West Bancorp in a report on Friday, March 8th. They set an “overweight” rating and a $106.00 target price for the company. Jefferies Financial Group boosted their price objective on East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 8th. Stephens raised their target price on East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Citigroup boosted their price target on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Truist Financial lowered their price objective on East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th.

Check Out Our Latest Stock Analysis on EWBC

East West Bancorp Stock Down 2.5 %

Shares of EWBC stock opened at $69.91 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93. East West Bancorp has a fifty-two week low of $48.65 and a fifty-two week high of $79.54. The firm has a market capitalization of $9.73 billion, a PE ratio of 8.80, a P/E/G ratio of 3.59 and a beta of 1.33. The stock’s 50-day simple moving average is $74.52 and its 200-day simple moving average is $72.99.

East West Bancorp (NASDAQ:EWBCGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company had revenue of $644.13 million for the quarter, compared to the consensus estimate of $636.77 million. During the same quarter in the prior year, the company earned $2.32 EPS. East West Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts expect that East West Bancorp will post 8.03 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is 27.71%.

Insider Buying and Selling

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of East West Bancorp stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the transaction, the insider now owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Trading of East West Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of East West Bancorp in the 1st quarter valued at approximately $25,000. YHB Investment Advisors Inc. acquired a new position in shares of East West Bancorp during the first quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new position in East West Bancorp in the fourth quarter valued at $29,000. Rise Advisors LLC purchased a new position in East West Bancorp in the first quarter valued at $30,000. Finally, Mather Group LLC. acquired a new stake in East West Bancorp in the first quarter valued at $35,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

About East West Bancorp

(Get Free Report

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.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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