East West Bancorp, Inc. (EWBC) Downgraded by Zacks Investment Research – Dispatch Tribunal


Zacks Investment Research lowered shares of East West Bancorp, Inc. (NASDAQ:EWBC) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

A number of other analysts have also recently commented on the company. Piper Jaffray Companies set a $74.00 price target on East West Bancorp and gave the company a buy rating in a research note on Saturday, October 21st. BMO Capital Markets upped their price target on East West Bancorp from $61.00 to $63.00 and gave the company a market perform rating in a research note on Friday, October 20th. Barclays PLC set a $66.00 price target on East West Bancorp and gave the company a buy rating in a research note on Friday, October 20th. Wedbush reaffirmed an outperform rating and issued a $66.00 price target (down from $68.00) on shares of East West Bancorp in a research note on Friday, October 20th. Finally, DA Davidson reaffirmed a hold rating and issued a $63.00 price target on shares of East West Bancorp in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $64.60.

Shares of East West Bancorp (EWBC) traded down 0.05% on Wednesday, hitting $61.19. 1,312,701 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $58.05 and its 200 day moving average price is $56.56. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 17.48 and a beta of 1.46. East West Bancorp has a 1-year low of $38.13 and a 1-year high of $61.90.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $348.97 million during the quarter, compared to analysts’ expectations of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. East West Bancorp’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. On average, equities research analysts expect that East West Bancorp will post $3.76 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. East West Bancorp’s payout ratio is 21.98%.

In related news, Director Herman Y. Li sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the sale, the director now directly owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rudolph Estrada sold 1,916 shares of the 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 directly owns 15,475 shares of the company’s stock, valued at $866,135.75. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in East West Bancorp by 156.1% during the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock worth $4,260,000 after purchasing an additional 44,336 shares in the last quarter. Dai Ichi Life Insurance Company Ltd increased its stake in East West Bancorp by 113.8% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 96,514 shares of the financial services provider’s stock worth $5,654,000 after purchasing an additional 51,378 shares in the last quarter. UBS Group AG increased its stake in East West Bancorp by 145.6% during the 1st quarter. UBS Group AG now owns 103,778 shares of the financial services provider’s stock worth $5,356,000 after purchasing an additional 61,527 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in East West Bancorp by 352.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,516 shares of the financial services provider’s stock worth $1,378,000 after purchasing an additional 18,321 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in East West Bancorp by 128.7% during the 2nd quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock worth $172,888,000 after purchasing an additional 1,660,844 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

About East West Bancorp

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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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)




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