East West Bancorp (NASDAQ:EWBC) PT Raised to $86.00

East West Bancorp (NASDAQ:EWBC) had its price target boosted by Stephens from $85.00 to $86.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts also recently commented on the stock. Wedbush reissued an outperform rating and issued a $90.00 target price on shares of East West Bancorp in a research report on Wednesday. Barclays initiated coverage on shares of East West Bancorp in a research note on Friday, March 8th. They issued an overweight rating and a $106.00 price objective for the company. Piper Sandler boosted their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Jefferies Financial Group boosted their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Morgan Stanley boosted their price objective on shares of East West Bancorp from $76.00 to $89.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $84.08.

East West Bancorp Stock Performance

EWBC stock opened at $75.98 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.96 and a beta of 1.39. East West Bancorp has a 12 month low of $41.12 and a 12 month high of $79.54. The firm has a 50 day moving average of $74.84 and a two-hundred day moving average of $68.57.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping 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 net margin of 26.78% and a return on equity of 17.43%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 earnings per share. As a group, equities analysts anticipate that East West Bancorp will post 7.99 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 2nd. East West Bancorp’s dividend payout ratio is 27.71%.

Insider Transactions at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Molly Campbell sold 1,625 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the sale, the director now directly owns 10,321 shares in the company, valued at approximately $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Institutional Investors Weigh In On East West Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in East West Bancorp during the 1st quarter worth about $25,000. YHB Investment Advisors Inc. acquired a new position in East West Bancorp during the 1st quarter valued at about $27,000. Rise Advisors LLC acquired a new position in East West Bancorp during the 1st quarter valued at about $30,000. Kapitalo Investimentos Ltda acquired a new position in East West Bancorp during the 4th quarter valued at about $29,000. Finally, Mather Group LLC. acquired a new position in East West Bancorp during the 1st quarter valued at about $35,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Company Profile

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.