East West Bancorp (NASDAQ:EWBC) Given New $140.00 Price Target at Wells Fargo & Company

East West Bancorp (NASDAQ:EWBC) had its price target boosted by Wells Fargo & Company from $125.00 to $140.00 in a research report released on Monday, Marketbeat.com reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on EWBC. TD Cowen raised their target price on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Truist Financial boosted their price target on East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Morgan Stanley increased their price target on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. UBS Group raised their price objective on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 22nd. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, East West Bancorp presently has an average rating of “Moderate Buy” and an average target price of $135.77.

East West Bancorp Stock Performance

Shares of EWBC opened at $131.42 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $18.00 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94. The firm’s fifty day simple moving average is $125.62 and its two-hundred day simple moving average is $117.86. East West Bancorp has a 12 month low of $92.67 and a 12 month high of $136.00.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. The firm had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $2.08 EPS. As a group, analysts predict that East West Bancorp will post 10.59 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp’s dividend payout ratio (DPR) is 31.97%.

Insider Transactions at East West Bancorp

In other news, Director Archana Deskus sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director directly owned 13,231 shares of the company’s stock, valued at $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the sale, the insider directly owned 84,698 shares of the company’s stock, valued at approximately $11,280,926.62. The trade was a 0.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,311 shares of company stock worth $6,784,711. Insiders own 0.94% of the company’s stock.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp during the fourth quarter worth $31,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp in the 3rd quarter worth $31,000. Signaturefd LLC raised its holdings in shares of East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 113 shares in the last quarter. Finally, Quarry LP boosted its holdings in East West Bancorp by 35.4% during the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 102 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

About East West Bancorp

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.