Wedbush Raises East West Bancorp (NASDAQ:EWBC) Price Target to $110.00

East West Bancorp (NASDAQ:EWBC) had its price objective lifted by Wedbush from $100.00 to $110.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock. Wedbush also issued estimates for East West Bancorp’s Q4 2024 earnings at $2.09 EPS and FY2026 earnings at $8.85 EPS.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group decreased their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Piper Sandler lifted their target price on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays boosted their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $99.46.

East West Bancorp Stock Down 2.2 %

East West Bancorp stock opened at $95.10 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $13.23 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.08 and a beta of 1.29. The firm has a 50 day moving average price of $83.94 and a 200-day moving average price of $78.62. East West Bancorp has a twelve month low of $52.29 and a twelve month high of $98.95.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same period in the prior year, the company earned $2.02 earnings per share. As a group, equities analysts predict that East West Bancorp will post 8.2 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.31%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now directly owns 16,557 shares of the company’s stock, valued at $1,382,509.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in East West Bancorp in the first quarter worth $3,961,000. Manning & Napier Advisors LLC purchased a new stake in East West Bancorp during the second quarter valued at about $3,832,000. Inspire Investing LLC lifted its stake in East West Bancorp by 197.8% during the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock worth $1,255,000 after purchasing an additional 10,535 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of East West Bancorp in the 1st quarter worth about $909,000. Finally, SG Americas Securities LLC purchased a new position in shares of East West Bancorp in the 2nd quarter worth about $852,000. Institutional investors own 89.53% of the company’s stock.

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.