Shares of East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $84.00.
A number of research firms recently commented on EWBC. Truist Financial decreased their price target on East West Bancorp from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group raised their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays cut their price target on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of East West Bancorp in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th.
Check Out Our Latest Report on East West Bancorp
Insider Activity
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after acquiring an additional 215,281 shares during the last quarter. Capital International Investors increased its holdings in shares of East West Bancorp by 1.4% during the 4th quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock worth $833,469,000 after purchasing an additional 159,963 shares during the period. Capital Research Global Investors bought a new position in shares of East West Bancorp during the 1st quarter worth about $338,142,000. Massachusetts Financial Services Co. MA increased its holdings in shares of East West Bancorp by 30.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after purchasing an additional 751,944 shares during the period. Finally, Boston Partners increased its holdings in shares of East West Bancorp by 48.5% during the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after purchasing an additional 886,841 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.
East West Bancorp Stock Up 0.2 %
Shares of East West Bancorp stock opened at $73.36 on Tuesday. The business has a 50-day moving average of $74.06 and a 200-day moving average of $73.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $10.21 billion, a PE ratio of 9.24, a P/E/G ratio of 3.72 and a beta of 1.32. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $79.54.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.08. The company had revenue of $644.13 million during the quarter, compared to the consensus estimate of $636.77 million. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.32 earnings per share. As a group, equities analysts forecast that East West Bancorp will post 8.03 EPS for the current fiscal year.
East West Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, May 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.
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.
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