East West Bancorp, Inc. (NASDAQ:EWBC) announced a quarterly dividend on Thursday, October 19th, Wall Street Journal reports. Shareholders of record on Wednesday, November 1st will be given a dividend of 0.20 per share by the financial services provider on Wednesday, November 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, October 31st.
Shares of East West Bancorp (NASDAQ EWBC) opened at 61.19 on Friday. The company’s 50-day moving average is $58.45 and its 200 day moving average is $56.66. East West Bancorp has a 52 week low of $38.13 and a 52 week high of $61.90. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 17.48 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. The firm had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. Analysts anticipate that East West Bancorp will post $3.76 EPS for the current fiscal year.
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In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $55.97, for a total value of $107,238.52. Following the sale, the director now owns 15,475 shares in the company, valued at approximately $866,135.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the director now owns 40,130 shares in the company, valued at approximately $2,447,930. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
EWBC has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price objective (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. BMO Capital Markets lowered East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a research report on Friday, July 7th. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Deutsche Bank AG lowered East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research report on Friday, July 14th. Finally, Wedbush restated an “outperform” rating and set a $68.00 target price on shares of East West Bancorp in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.60.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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