East West Bancorp, Inc. (NASDAQ:EWBC) Receives Average Recommendation of “Moderate Buy” from Brokerages

East West Bancorp, Inc. (NASDAQ:EWBC) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $110.38.

EWBC has been the subject of several analyst reports. Barclays reduced their target price on East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company raised their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson decreased their price objective on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 725 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total transaction of $75,762.50. Following the completion of the transaction, the director now directly owns 15,832 shares of the company’s stock, valued at approximately $1,654,444. This trade represents a 4.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in EWBC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider’s stock worth $64,174,000 after buying an additional 632,245 shares in the last quarter. Boston Partners raised its holdings in shares of East West Bancorp by 23.1% in the 4th quarter. Boston Partners now owns 2,383,284 shares of the financial services provider’s stock worth $228,269,000 after buying an additional 447,057 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of East West Bancorp in the 4th quarter worth approximately $32,138,000. Victory Capital Management Inc. grew its holdings in shares of East West Bancorp by 171.3% in the 4th quarter. Victory Capital Management Inc. now owns 384,780 shares of the financial services provider’s stock worth $36,847,000 after purchasing an additional 242,928 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of East West Bancorp by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,418,840 shares of the financial services provider’s stock worth $423,148,000 after purchasing an additional 186,887 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Trading Up 1.2 %

Shares of NASDAQ EWBC opened at $98.97 on Wednesday. East West Bancorp has a 12 month low of $68.36 and a 12 month high of $113.95. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $99.91 and a 200-day simple moving average of $92.94.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, February 3rd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio (DPR) is presently 28.81%.

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.