East West Bancorp, Inc. (NASDAQ:EWBC) has been assigned a consensus rating of “Buy” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $72.42.
Several analysts have issued reports on EWBC shares. BidaskClub downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. ValuEngine downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group started coverage on shares of East West Bancorp in a research report on Thursday, March 22nd. They issued a “buy” rating and a $77.00 price objective for the company. DA Davidson lowered their price objective on shares of East West Bancorp from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, April 24th. Finally, Deutsche Bank increased their price objective on shares of East West Bancorp from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, May 4th.
In other news, CEO Dominic Ng sold 5,771 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $67.23, for a total transaction of $387,984.33. Following the completion of the sale, the chief executive officer now owns 539,871 shares of the company’s stock, valued at $36,295,527.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Molly Campbell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $67.00, for a total transaction of $36,850.00. Following the sale, the director now directly owns 4,898 shares of the company’s stock, valued at approximately $328,166. The disclosure for this sale can be found here. Insiders have sold 116,578 shares of company stock valued at $8,179,557 in the last three months. Corporate insiders own 0.68% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in East West Bancorp during the first quarter worth $817,000. WINTON GROUP Ltd lifted its stake in East West Bancorp by 11.0% during the first quarter. WINTON GROUP Ltd now owns 62,813 shares of the financial services provider’s stock worth $3,928,000 after purchasing an additional 6,203 shares during the last quarter. CIBC World Markets Inc. bought a new position in East West Bancorp during the first quarter worth $685,000. Xact Kapitalforvaltning AB lifted its stake in East West Bancorp by 2.3% during the first quarter. Xact Kapitalforvaltning AB now owns 41,367 shares of the financial services provider’s stock worth $2,587,000 after purchasing an additional 936 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in East West Bancorp by 6.0% during the first quarter. Handelsbanken Fonder AB now owns 2,489,611 shares of the financial services provider’s stock worth $155,700,000 after purchasing an additional 140,000 shares during the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.
NASDAQ:EWBC traded down $0.10 during trading hours on Thursday, hitting $70.18. The stock had a trading volume of 845,400 shares, compared to its average volume of 895,147. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. East West Bancorp has a 1-year low of $52.86 and a 1-year high of $73.98. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.13. East West Bancorp had a net margin of 32.46% and a return on equity of 14.15%. The company had revenue of $401.14 million during the quarter, compared to the consensus estimate of $364.81 million. During the same quarter last year, the company earned $0.88 earnings per share. equities analysts anticipate that East West Bancorp will post 4.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, April 30th. East West Bancorp’s payout ratio is currently 23.12%.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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