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

East West Bancorp, Inc. (NASDAQ:EWBC) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $92.77.

A number of brokerages have recently weighed in on EWBC. DA Davidson upped their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on shares of East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley lifted their price target on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Stephens lifted their target price on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler increased their target price on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $91.66 on Thursday. The business has a fifty day moving average price of $81.92 and a two-hundred day moving average price of $77.80. The stock has a market capitalization of $12.75 billion, a PE ratio of 11.54, a P/E/G ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp has a fifty-two week low of $51.14 and a fifty-two week high of $92.68.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. During the same quarter in the previous year, the firm earned $2.20 earnings per share. East West Bancorp’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts predict that East West Bancorp will post 8.2 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

Insider Buying and Selling at East West Bancorp

In other news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gary Teo sold 3,450 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On East West Bancorp

Large investors have recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in East West Bancorp by 2.8% during the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 128 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in East West Bancorp by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 133 shares during the period. Bleakley Financial Group LLC increased its holdings in East West Bancorp by 4.4% in the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in East West Bancorp by 3.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after buying an additional 160 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in shares of East West Bancorp by 6.4% during the 2nd quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock worth $214,000 after buying an additional 175 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.