East West Bancorp (NASDAQ:EWBC) Price Target Increased to $108.00 by Analysts at Barclays

East West Bancorp (NASDAQ:EWBC) had its target price hoisted by Barclays from $105.00 to $108.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley increased their target price on East West Bancorp from $95.00 to $103.00 and gave the stock an overweight rating in a report on Monday, August 5th. Truist Financial cut their target price on East West Bancorp from $96.00 to $93.00 and set a buy rating on the stock in a report on Friday, September 20th. Wells Fargo & Company increased their price target on East West Bancorp from $85.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. StockNews.com raised East West Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 17th. Finally, Stephens increased their price target on East West Bancorp from $86.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, East West Bancorp has an average rating of Moderate Buy and an average target price of $89.53.

East West Bancorp Price Performance

Shares of EWBC opened at $81.53 on Friday. East West Bancorp has a 12-month low of $49.59 and a 12-month high of $89.75. The business’s fifty day moving average is $81.46 and its 200 day moving average is $77.01. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $11.34 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $631.61 million. During the same period last year, the business earned $2.20 EPS. East West Bancorp’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that East West Bancorp will post 8.17 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.70%. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insiders Place Their Bets

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated 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 of the company’s stock, valued at approximately $1,382,509.50. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock worth $1,108,160 in the last quarter. 1.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On East West Bancorp

Large investors have recently modified their holdings of the company. Riverview Trust Co purchased a new position in shares of East West Bancorp during the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. purchased a new position in shares of East West Bancorp during the 1st quarter valued at about $27,000. Rise Advisors LLC purchased a new position in shares of East West Bancorp during the 1st quarter valued at about $30,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp during the 4th quarter valued at about $29,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of East West Bancorp during the 2nd quarter valued at about $30,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.