East West Bancorp (NASDAQ:EWBC) Given New $93.00 Price Target at Truist Financial

East West Bancorp (NASDAQ:EWBC) had its target price decreased by Truist Financial from $96.00 to $93.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of East West Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 17th. Stephens lifted their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Piper Sandler upped their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Wedbush lifted their price objective on East West Bancorp from $90.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their target price on East West Bancorp from $85.00 to $95.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, East West Bancorp currently has an average rating of Moderate Buy and a consensus price target of $89.33.

East West Bancorp Stock Performance

Shares of EWBC opened at $82.57 on Friday. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29. The company’s fifty day moving average is $81.35 and its 200-day moving average is $76.89. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 12 month low of $49.59 and a 12 month high of $89.75.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. Equities analysts expect that East West Bancorp will post 8.2 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is 27.71%.

Insider Transactions at East West Bancorp

In related news, EVP Gary Teo sold 3,450 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gary Teo sold 3,450 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares in the company, valued at approximately $1,392,713.75. The disclosure for this sale can be found here. In the last three months, insiders sold 13,346 shares of company stock valued at $1,108,160. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWBC. Janney Montgomery Scott LLC boosted its holdings in shares of East West Bancorp by 7.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,923 shares of the financial services provider’s stock worth $1,146,000 after acquiring an additional 1,137 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in East West Bancorp in the fourth quarter worth $416,000. Norges Bank bought a new stake in shares of East West Bancorp during the fourth quarter worth $115,369,000. Coldstream Capital Management Inc. increased its stake in shares of East West Bancorp by 55.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,828 shares of the financial services provider’s stock valued at $563,000 after buying an additional 2,805 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of East West Bancorp by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 377,176 shares of the financial services provider’s stock valued at $27,138,000 after buying an additional 46,416 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.