East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Friday, May 3rd will be given a dividend of 0.55 per share by the financial services provider on Friday, May 17th. This represents a $2.20 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, May 2nd.
East West Bancorp has raised its dividend payment by an average of 20.4% per year over the last three years and has raised its dividend every year for the last 4 years. East West Bancorp has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Analysts expect East West Bancorp to earn $8.29 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 26.5%.
East West Bancorp Trading Up 0.6 %
NASDAQ:EWBC opened at $76.45 on Tuesday. The company has a 50 day simple moving average of $74.93 and a two-hundred day simple moving average of $68.98. The company has a market cap of $10.64 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.95 and a beta of 1.39. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. East West Bancorp has a 12 month low of $41.12 and a 12 month high of $79.54.
Insider Activity
In other news, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the transaction, the director now owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on EWBC shares. Truist Financial decreased their price target on shares of 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. Morgan Stanley lifted their price objective on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler lifted their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Jefferies Financial Group increased their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.08.
Get Our Latest Stock Report on EWBC
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.
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