East West Bancorp, Inc. (NASDAQ:EWBC) Receives $84.08 Consensus Target Price from Brokerages

Shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $84.08.

EWBC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Compass Point upped their price target on East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Truist Financial decreased their price objective on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup increased their target price on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Barclays assumed coverage on East West Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $106.00 price objective for the company.

View Our Latest Stock Analysis on East West Bancorp

East West Bancorp Stock Down 2.5 %

Shares of EWBC opened at $69.91 on Friday. East West Bancorp has a 1 year low of $48.65 and a 1 year high of $79.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $74.52 and a two-hundred day simple moving average of $72.99. The firm has a market cap of $9.73 billion, a P/E ratio of 8.80, a P/E/G ratio of 3.59 and a beta of 1.33.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. During the same quarter last year, the firm earned $2.32 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts forecast that East West Bancorp will post 8.03 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Thursday, May 2nd. East West Bancorp’s payout ratio is currently 27.71%.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the sale, the insider now directly owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the sale, the insider now directly owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On East West Bancorp

Several hedge funds have recently modified their holdings of the stock. New York Life Investment Management LLC boosted its holdings in shares of East West Bancorp by 110.2% during the 3rd quarter. New York Life Investment Management LLC now owns 14,831 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 7,775 shares during the last quarter. Swiss National Bank boosted its stake in East West Bancorp by 1.0% during the third quarter. Swiss National Bank now owns 311,000 shares of the financial services provider’s stock valued at $16,393,000 after buying an additional 3,200 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in East West Bancorp by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,463,757 shares of the financial services provider’s stock worth $129,865,000 after acquiring an additional 72,282 shares during the last quarter. Van ECK Associates Corp increased its stake in East West Bancorp by 42.8% in the 3rd quarter. Van ECK Associates Corp now owns 29,747 shares of the financial services provider’s stock worth $1,568,000 after acquiring an additional 8,916 shares during the last quarter. Finally, Pathstone Family Office LLC raised its holdings in shares of East West Bancorp by 58.9% during the 3rd quarter. Pathstone Family Office LLC now owns 10,820 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 4,009 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.