East West Bancorp, Inc. (NASDAQ:EWBC) Receives $107.85 Average Price Target from Analysts

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $107.85.

A number of research firms recently commented on EWBC. Truist Financial began coverage on East West Bancorp in a research report on Tuesday, May 13th. They set a “hold” rating and a $102.00 price objective for the company. Barclays upped their price target on East West Bancorp from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on East West Bancorp from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group began coverage on East West Bancorp in a research report on Wednesday, May 21st. They issued a “buy” rating and a $115.00 price target for the company. Finally, DA Davidson reduced their price target on East West Bancorp from $118.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd.

East West Bancorp Stock Up 2.1%

East West Bancorp stock opened at $93.61 on Tuesday. The stock has a market cap of $12.90 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp has a one year low of $68.27 and a one year high of $113.95. The stock has a fifty day moving average of $88.76 and a 200 day moving average of $92.61.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $693.00 million during the quarter, compared to analysts’ expectations of $673.02 million. East West Bancorp had a return on equity of 15.23% and a net margin of 25.73%. As a group, sell-side analysts predict that East West Bancorp will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp’s dividend payout ratio is currently 28.64%.

Insider Activity at East West Bancorp

In related news, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the transaction, the executive vice president now directly owns 14,849 shares of the company’s stock, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dominic Ng sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00. Following the transaction, the chief executive officer now directly owns 928,314 shares of the company’s stock, valued at approximately $89,517,319.02. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWBC. Marshall & Sterling Wealth Advisors Inc. bought a new position in East West Bancorp during the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management lifted its stake in shares of East West Bancorp by 1,971.4% in the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 276 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of East West Bancorp in the 1st quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in shares of East West Bancorp in the 1st quarter valued at approximately $29,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 175 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

About East West Bancorp

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.