East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Friday, August 2nd will be given a dividend of 0.55 per share by the financial services provider on Friday, August 16th. This represents a $2.20 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Friday, August 2nd.
East West Bancorp has raised its dividend payment by an average of 20.4% annually over the last three years. East West Bancorp has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect East West Bancorp to earn $8.33 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 26.4%.
East West Bancorp Price Performance
NASDAQ:EWBC opened at $84.41 on Thursday. East West Bancorp has a 52 week low of $49.59 and a 52 week high of $87.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $11.74 billion, a P/E ratio of 10.63, a P/E/G ratio of 5.04 and a beta of 1.32. The stock’s fifty day moving average is $74.12 and its two-hundred day moving average is $74.12.
Analysts Set New Price Targets
Several research firms recently issued reports on EWBC. Stephens boosted their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays cut their price objective on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, DA Davidson boosted their price objective on East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.53.
Insider Transactions at East West Bancorp
In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. In other news, insider Irene H. Oh sold 10,000 shares of the business’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 sale, the insider now directly owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the business’s stock in a transaction dated 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 $4,234,045.28. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.
East West Bancorp Company Profile
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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