East West Bancorp, Inc. (EWBC) Given Consensus Rating of “Buy” by Brokerages

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been given an average recommendation of “Buy” by the sixteen research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $70.27.

A number of analysts have weighed in on the company. DA Davidson restated a “hold” rating and set a $63.00 target price on shares of East West Bancorp in a report on Friday, October 20th. Piper Jaffray Companies set a $74.00 target price on East West Bancorp and gave the stock a “buy” rating in a report on Saturday, October 21st. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, Sandler O’Neill restated a “buy” rating and set a $69.00 target price on shares of East West Bancorp in a report on Thursday, January 4th.

In other news, Director Jack C. Liu sold 2,200 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the completion of the sale, the director now owns 23,599 shares in the company, valued at approximately $1,370,393.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the sale, the director now owns 21,599 shares of the company’s stock, valued at approximately $1,479,531.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,200 shares of company stock valued at $704,434. Company insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of EWBC. State Street Corp lifted its holdings in shares of East West Bancorp by 16.5% during the 2nd quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after purchasing an additional 1,004,860 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of East West Bancorp by 66.8% during the 3rd quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock valued at $58,784,000 after purchasing an additional 393,861 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of East West Bancorp during the 4th quarter valued at $22,808,000. Hahn Capital Management LLC acquired a new position in shares of East West Bancorp in the 2nd quarter valued at $21,380,000. Finally, Jennison Associates LLC increased its position in shares of East West Bancorp by 11.3% in the 4th quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock valued at $177,381,000 after acquiring an additional 294,977 shares during the period. Hedge funds and other institutional investors own 91.39% of the company’s stock.

Shares of East West Bancorp (EWBC) traded up $1.66 during midday trading on Friday, hitting $64.18. The company had a trading volume of 759,908 shares, compared to its average volume of 888,007. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $9,424.20, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. East West Bancorp has a 12-month low of $48.07 and a 12-month high of $69.25.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. equities research analysts anticipate that East West Bancorp will post 4.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. East West Bancorp’s dividend payout ratio is presently 23.12%.

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About East West Bancorp

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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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