East West Bancorp, Inc. (NASDAQ:EWBC) – Analysts at SunTrust Banks lowered their FY2017 EPS estimates for East West Bancorp in a note issued to investors on Monday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will earn $3.45 per share for the year, down from their prior estimate of $3.52. SunTrust Banks currently has a “Buy” rating and a $65.00 price target on the stock.
Several other research firms have also recently commented on EWBC. BMO Capital Markets lifted their target price 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. Raymond James Financial, Inc. raised East West Bancorp from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 5th. Zacks Investment Research cut East West Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Morgan Stanley reissued an “equal weight” rating and issued a $63.00 target price (up from $61.00) on shares of East West Bancorp in a research note on Wednesday, October 4th. Finally, BidaskClub cut East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. East West Bancorp currently has a consensus rating of “Hold” and an average price target of $64.60.
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East West Bancorp (EWBC) opened at 61.19 on Thursday. East West Bancorp has a 52 week low of $38.13 and a 52 week high of $61.90. The company’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 PE ratio of 17.48 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business had revenue of $348.97 million during the quarter, compared to analysts’ expectations of $349.28 million. During the same quarter last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis.
The business also recently disclosed 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 dividend yield of 1.31%. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.
In other East West Bancorp news, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the director now directly owns 40,130 shares of the company’s stock, valued at $2,447,930. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, 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 owned by insiders.
Large investors have recently bought and sold shares of the business. Toronto Dominion Bank acquired a new position in East West Bancorp in the second quarter valued at about $104,000. Strs Ohio acquired a new position in East West Bancorp in the second quarter valued at about $110,000. San Francisco Sentry Investment Group CA acquired a new position in East West Bancorp in the second quarter valued at about $138,000. D.A. Davidson & CO. grew its stake in East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 26 shares during the period. Finally, Americafirst Capital Management LLC acquired a new position in East West Bancorp in the second quarter valued at about $149,000. 90.39% of the stock is owned by hedge funds and other 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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