East West Bancorp (NASDAQ:EWBC) Price Target Raised to $100.00 at Wedbush

East West Bancorp (NASDAQ:EWBC) had its target price hoisted by Wedbush from $90.00 to $100.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock. Wedbush also issued estimates for East West Bancorp’s Q3 2024 earnings at $2.06 EPS, FY2024 earnings at $8.20 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $2.09 EPS, Q3 2025 earnings at $2.20 EPS, Q4 2025 earnings at $2.21 EPS and FY2025 earnings at $8.50 EPS.

Several other research analysts have also commented on EWBC. Piper Sandler boosted their price target on East West Bancorp from $72.50 to $92.00 and gave the stock a neutral rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of East West Bancorp from $85.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday. Barclays cut their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an overweight rating on the stock in a research report on Monday, June 24th. Jefferies Financial Group decreased their target price on shares of East West Bancorp from $94.00 to $85.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com raised East West Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $88.60.

East West Bancorp Trading Up 1.1 %

NASDAQ EWBC opened at $87.97 on Wednesday. East West Bancorp has a one year low of $49.59 and a one year high of $88.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.92. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 3.01 and a beta of 1.32. The company’s 50-day simple moving average is $74.52 and its two-hundred day simple moving average is $74.33.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. East West Bancorp’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. Equities analysts forecast that East West Bancorp will post 8.15 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the transaction, the insider now owns 57,403 shares in the company, valued at approximately $4,234,045.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $590,080.00. Following the completion of the sale, the insider now owns 57,403 shares in the company, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY grew its stake in shares of East West Bancorp by 30.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock worth $47,578,000 after purchasing an additional 152,334 shares during the period. Atomi Financial Group Inc. purchased a new position in East West Bancorp in the second quarter valued at $216,000. First Heartland Consultants Inc. acquired a new position in shares of East West Bancorp in the second quarter worth about $214,000. JB Capital LLC boosted its stake in shares of East West Bancorp by 5.6% during the 2nd quarter. JB Capital LLC now owns 54,495 shares of the financial services provider’s stock worth $3,991,000 after acquiring an additional 2,896 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $357,000. 89.53% of the stock is 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.