East West Bancorp, Inc. (NASDAQ:EWBC) Receives $92.77 Average Price Target from Analysts

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $92.77.

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th. Barclays lifted their target price on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. DA Davidson upped their price target on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Stephens increased their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gary Teo sold 3,450 shares of the company’s 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 completion of the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. 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. Insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC increased its stake in shares of East West Bancorp by 4.4% during 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 during the period. Twelve Points Wealth Management LLC grew its holdings in East West Bancorp by 12.0% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 6,281 shares of the financial services provider’s stock valued at $520,000 after buying an additional 672 shares in the last quarter. Michael S. Ryan Inc. bought a new position in East West Bancorp during the 3rd quarter worth $200,000. Creative Planning lifted its holdings in shares of East West Bancorp by 6.6% during the third quarter. Creative Planning now owns 16,094 shares of the financial services provider’s stock worth $1,332,000 after buying an additional 992 shares in the last quarter. Finally, Tobam boosted its position in shares of East West Bancorp by 131.7% in the third quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 274 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Trading Up 1.7 %

NASDAQ:EWBC opened at $91.66 on Thursday. The business’s 50-day simple moving average is $81.92 and its 200-day simple moving average is $77.80. East West Bancorp has a fifty-two week low of $51.14 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $12.75 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29.

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

East West Bancorp Dividend Announcement

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

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.