Brokerages Set East West Bancorp, Inc. (NASDAQ:EWBC) Price Target at $111.31

East West Bancorp, Inc. (NASDAQ:EWBC) has received an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $111.31.

Several research analysts have issued reports on EWBC shares. Piper Sandler cut their price objective on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. DA Davidson decreased their price objective on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Morgan Stanley lowered their target price on shares of East West Bancorp from $127.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Compass Point boosted their price target on East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays dropped their price objective on East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, January 24th.

East West Bancorp Price Performance

Shares of EWBC opened at $74.04 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp has a twelve month low of $68.78 and a twelve month high of $113.95. The firm’s fifty day simple moving average is $93.50 and its 200-day simple moving average is $95.58. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.29 and a beta of 1.28.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s payout ratio is currently 28.81%.

Insider Activity at East West Bancorp

In related news, Director Jack C. Liu sold 1,275 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.53, for a total transaction of $133,275.75. Following the completion of the transaction, the director now owns 14,557 shares of the company’s stock, valued at approximately $1,521,643.21. This represents a 8.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dominic Ng sold 20,181 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the transaction, the chief executive officer now directly owns 988,133 shares in the company, valued at $88,941,851.33. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,181 shares of company stock valued at $5,625,732. Company insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new position in East West Bancorp in the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of East West Bancorp in the third quarter valued at $26,000. Venturi Wealth Management LLC grew its holdings in East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 175 shares in the last quarter. Versant Capital Management Inc increased its stake in East West Bancorp by 89.7% during the 1st quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider’s stock worth $46,000 after buying an additional 245 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock worth $54,000 after buying an additional 306 shares in the last quarter. Institutional investors and hedge funds 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.