Barclays PLC set a $66.00 target price on East West Bancorp, Inc. (NASDAQ:EWBC) in a report released on Friday, October 20th. The brokerage currently has a buy rating on the financial services provider’s stock.
EWBC has been the subject of several other research reports. BidaskClub downgraded shares of East West Bancorp from a buy rating to a hold rating in a report on Friday, June 23rd. Keefe, Bruyette & Woods reissued a hold rating and set a $57.00 price objective on shares of East West Bancorp in a report on Friday, June 23rd. Wedbush reissued an outperform rating and set a $68.00 price objective on shares of East West Bancorp in a report on Tuesday, June 27th. Morgan Stanley reissued an equal weight rating and set a $60.00 price objective (up previously from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Finally, BMO Capital Markets downgraded shares of East West Bancorp from an outperform rating to a market perform rating and set a $63.00 price objective for the company. in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. East West Bancorp has a consensus rating of Hold and a consensus target price of $64.60.
Shares of East West Bancorp (NASDAQ:EWBC) traded down 0.05% during trading on Friday, hitting $61.19. The stock had a trading volume of 1,312,701 shares. The firm has a market cap of $8.84 billion, a PE ratio of 17.48 and a beta of 1.46. East West Bancorp has a 52-week low of $38.13 and a 52-week high of $61.90. The stock has a 50 day moving average of $58.45 and a 200 day moving average of $56.66.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. East West Bancorp’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, equities analysts anticipate that East West Bancorp will post $3.76 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, October 31st. East West Bancorp’s dividend payout ratio is 21.98%.
In other news, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the sale, the director now directly owns 40,130 shares in the company, valued at approximately $2,447,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now owns 15,475 shares in the company, 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.
A number of institutional investors have recently bought and sold shares of EWBC. Toronto Dominion Bank purchased a new stake in East West Bancorp in the 2nd quarter worth about $104,000. Strs Ohio purchased a new stake in East West Bancorp in the 2nd quarter worth about $110,000. San Francisco Sentry Investment Group CA purchased a new stake in East West Bancorp in the 2nd quarter worth about $138,000. D.A. Davidson & CO. raised its position in East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 26 shares during the period. Finally, Americafirst Capital Management LLC purchased a new stake in East West Bancorp in the 2nd quarter worth about $149,000. 90.39% of the stock is currently owned by institutional investors.
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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