East West Bancorp (NASDAQ:EWBC) Price Target Raised to $104.00

East West Bancorp (NASDAQ:EWBC) had its price objective upped by Stephens from $91.00 to $104.00 in a research report report published on Thursday morning, Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on EWBC. DA Davidson boosted their target price on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup lifted their target price on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group lowered their price target 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. Finally, Truist Financial boosted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.46.

East West Bancorp Price Performance

EWBC stock opened at $95.10 on Thursday. East West Bancorp has a 1 year low of $52.29 and a 1 year high of $98.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $13.18 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.29. The business has a 50 day simple moving average of $83.94 and a 200-day simple moving average of $78.63.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a return on equity of 16.41% and a net margin of 24.96%. During the same period last year, the company earned $2.02 EPS. Equities research analysts anticipate that East West Bancorp will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s payout ratio is 27.78%.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares in the company, valued at $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Friday, August 23rd. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in East West Bancorp during the 1st quarter worth $25,000. Oak Thistle LLC acquired a new position in East West Bancorp during the 1st quarter worth approximately $262,000. State of Michigan Retirement System raised its stake in shares of East West Bancorp by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 34,622 shares of the financial services provider’s stock worth $2,739,000 after buying an additional 800 shares in the last quarter. Norden Group LLC acquired a new stake in shares of East West Bancorp in the 1st quarter valued at approximately $414,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of East West Bancorp in the first quarter valued at approximately $206,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

About East West Bancorp

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.