East West Bancorp Given New $37.50 Price Target at DA Davidson (EWBC)
Equities researchers at DA Davidson lifted their price target on shares of East West Bancorp (NASDAQ:EWBC) from $33.00 to $37.50 in a research report issued on Friday, Stock Ratings Network reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price target would suggest a potential upside of 10.02% from the company’s current price.
East West Bancorp (NASDAQ:EWBC) traded up 0.25% on Friday, hitting $34.085. 1,353,347 shares of the company’s stock traded hands. East West Bancorp has a one year low of $19.68 and a one year high of $34.32. The stock’s 50-day moving average is $31. and its 200-day moving average is $28.3. The company has a market cap of $4.667 billion and a price-to-earnings ratio of 17.03.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 17th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.01. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts expect that East West Bancorp will post $2.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, October 29th.
A number of other firms have also recently commented on EWBC. Analysts at Merrill Lynch initiated coverage on shares of East West Bancorp in a research note to investors on Wednesday, October 9th. They set a “neutral” rating on the stock. Separately, analysts at Bank of America Corp. initiated coverage on shares of East West Bancorp in a research note to investors on Wednesday, October 9th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of East West Bancorp from $34.00 to $36.00 in a research note to investors on Tuesday, October 8th. They now have an “outperform” rating on the stock. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.07.
East West Bancorp, Inc (NASDAQ:EWBC) is a bank holding company.
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