East West Bancorp (NASDAQ:EWBC) Price Target Lowered to $86.00 at Truist Financial

East West Bancorp (NASDAQ:EWBC) had its price objective lowered by Truist Financial from $90.00 to $86.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an outperform rating in a research report on Wednesday. Barclays initiated coverage on shares of East West Bancorp in a research report on Friday, March 8th. They issued an overweight rating and a $106.00 price target on the stock. Compass Point raised their price target on shares of East West Bancorp from $83.00 to $88.00 and gave the company a buy rating in a research report on Wednesday, March 13th. Wedbush reaffirmed an outperform rating and issued a $90.00 price target on shares of East West Bancorp in a research report on Wednesday. Finally, Stephens raised their price target on shares of East West Bancorp from $85.00 to $86.00 and gave the company an overweight rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $84.08.

East West Bancorp Stock Performance

Shares of East West Bancorp stock opened at $76.36 on Thursday. The company has a market cap of $10.62 billion, a P/E ratio of 9.62, a PEG ratio of 0.97 and a beta of 1.39. The business has a 50-day moving average price of $74.76 and a two-hundred day moving average price of $68.40. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. East West Bancorp has a 1-year low of $41.12 and a 1-year high of $79.54.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. The company had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.32 EPS. As a group, analysts anticipate that East West Bancorp will post 7.92 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.88%. East West Bancorp’s payout ratio is currently 27.71%.

Insider Activity at East West Bancorp

In related news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the transaction, the director now owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in East West Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after purchasing an additional 215,281 shares during the period. Capital International Investors lifted its holdings in shares of East West Bancorp by 1.4% during the 4th quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock worth $833,469,000 after acquiring an additional 159,963 shares during the last quarter. FMR LLC lifted its holdings in shares of East West Bancorp by 3.8% during the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock worth $443,635,000 after acquiring an additional 306,473 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of East West Bancorp by 30.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after acquiring an additional 751,944 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of East West Bancorp by 48.5% during the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after acquiring an additional 886,841 shares during the last quarter. 89.53% of the stock is owned by 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.