East West Bancorp, Inc. (EWBC) Receives Consensus Recommendation of “Hold” from Brokerages
East West Bancorp, Inc. (NASDAQ:EWBC) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $62.88.
Several research firms have recently issued reports on EWBC. Barclays PLC restated an “overweight” rating and set a $63.00 price objective (up previously from $61.00) on shares of East West Bancorp in a report on Sunday, April 23rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Monday, May 22nd. Deutsche Bank AG downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a report on Friday, July 14th. Morgan Stanley upped their price objective on shares of East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, July 31st.
In related news, Director Jack C. Liu sold 1,123 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the sale, the director now owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Toronto Dominion Bank purchased a new stake in shares of East West Bancorp during the second quarter worth approximately $104,000. Strs Ohio bought a new stake in East West Bancorp during the second quarter valued at approximately $110,000. Washington Trust Bank raised its stake in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new stake in East West Bancorp during the second quarter valued at approximately $138,000. Finally, D.A. Davidson & CO. raised its stake in East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.
Shares of East West Bancorp (EWBC) traded down 0.33% during mid-day trading on Friday, hitting $54.52. 511,225 shares of the stock were exchanged. The stock’s 50 day moving average is $57.48 and its 200-day moving average is $55.07. The stock has a market cap of $7.88 billion, a PE ratio of 15.57 and a beta of 1.41. East West Bancorp has a 12 month low of $34.08 and a 12 month high of $60.42.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The firm had revenue of $337.49 million for the quarter, compared to the consensus estimate of $329.32 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, analysts anticipate that East West Bancorp will post $3.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a $0.20 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. East West Bancorp’s dividend payout ratio is currently 22.92%.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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