East West Bancorp, Inc. (NASDAQ:EWBC) Receives $99.46 Consensus Target Price from Brokerages

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $102.25.

A number of analysts have commented on the stock. Barclays boosted their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stephens lifted their price objective on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Compass Point lifted their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

East West Bancorp Stock Up 0.2 %

EWBC stock opened at $101.88 on Monday. East West Bancorp has a 52 week low of $55.43 and a 52 week high of $107.33. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 3.13 and a beta of 1.27. The firm’s 50-day moving average is $87.39 and its two-hundred day moving average is $80.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same period in the previous year, the firm earned $2.02 EPS. On average, analysts forecast that East West Bancorp will post 8.34 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is currently 27.78%.

Insider Transactions at East West Bancorp

In other news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total value of $147,975.00. Following the transaction, the director now directly owns 10,639 shares of the company’s stock, valued at $1,049,537.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now directly owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the transaction, the director now directly owns 10,639 shares in the company, valued at $1,049,537.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,969 shares of company stock valued at $1,345,956 over the last ninety days. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

A number of institutional investors have recently added to or reduced their stakes in EWBC. Capital Research Global Investors acquired a new stake in East West Bancorp in the first quarter valued at approximately $338,142,000. Jupiter Asset Management Ltd. acquired a new stake in East West Bancorp in the second quarter valued at approximately $59,460,000. Lord Abbett & CO. LLC lifted its stake in East West Bancorp by 112.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock valued at $114,013,000 after acquiring an additional 762,958 shares during the last quarter. Millennium Management LLC lifted its stake in East West Bancorp by 152.1% in the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock valued at $27,404,000 after acquiring an additional 225,799 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in East West Bancorp by 30.6% in the second quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock valued at $47,578,000 after acquiring an additional 152,334 shares during 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.