Truist Financial Cuts East West Bancorp (NASDAQ:EWBC) Price Target to $86.00

East West Bancorp (NASDAQ:EWBC) had its price target reduced by Truist Financial from $90.00 to $86.00 in a research report released on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Piper Sandler increased their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Compass Point lifted their price target on East West Bancorp from $83.00 to $88.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Citigroup upped their price objective on East West Bancorp from $85.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Jefferies Financial Group lifted their target price on East West Bancorp from $86.00 to $88.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods raised their price target on East West Bancorp from $82.00 to $85.00 and gave the company an outperform rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp presently has a consensus rating of Moderate Buy and a consensus price target of $84.08.

East West Bancorp Stock Down 0.5 %

East West Bancorp stock opened at $75.98 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. East West Bancorp has a 1-year low of $41.12 and a 1-year high of $79.54. The company has a fifty day simple moving average of $74.84 and a 200 day simple moving average of $68.68. The company has a market cap of $10.57 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.08. The company had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. East West Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.32 EPS. Research analysts anticipate that East West Bancorp will post 7.99 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Buying and Selling at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the transaction, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of large investors have recently modified their holdings of the business. Riverview Trust Co bought a new stake in shares of East West Bancorp during the 1st quarter worth $25,000. YHB Investment Advisors Inc. acquired a new position in East West Bancorp during the first quarter worth about $27,000. First Horizon Advisors Inc. lifted its holdings in shares of East West Bancorp by 65.1% in the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 211 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the 4th quarter valued at approximately $29,000. Finally, Rise Advisors LLC bought a new stake in shares of East West Bancorp during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.