Shares of East West Bancorp Inc. (NASDAQ:EWBC) gapped up before the market opened on Friday . The stock had previously closed at $33.22, but opened at $33.51. East West Bancorp shares last traded at $35.03, with a volume of 440,208 shares changing hands.

Several analysts recently commented on EWBC shares. Zacks Investment Research lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 18th. Keefe, Bruyette & Woods lowered shares of East West Bancorp from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $44.00 to $41.00 in a research report on Thursday, April 28th. Barclays PLC raised their price target on shares of East West Bancorp from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. BMO Capital Markets restated a “buy” rating and set a $41.00 price target on shares of East West Bancorp in a research report on Friday, July 22nd. Finally, Macquarie upgraded shares of East West Bancorp from a “neutral” rating to an “outperform” rating in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.71.

The stock’s 50-day moving average is $34.46 and its 200-day moving average is $34.15. The company has a market cap of $5.08 billion and a price-to-earnings ratio of 12.90.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, analysts predict that East West Bancorp Inc. will post $2.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.80 annualized dividend and a yield of 2.27%.

In related news, EVP Wendy H. Cai-Lee sold 1,200 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $36.37, for a total value of $43,644.00. Following the completion of the sale, the executive vice president now owns 43,789 shares in the company, valued at approximately $1,592,605.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of hedge funds have added to or reduced their stakes in EWBC. Parsons Capital Management Inc. RI increased its stake in East West Bancorp by 0.3% in the fourth quarter. Parsons Capital Management Inc. RI now owns 36,025 shares of the financial services provider’s stock valued at $1,497,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. increased its stake in East West Bancorp by 18.8% in the fourth quarter. Advisors Asset Management Inc. now owns 24,736 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 3,920 shares during the period. Westfield Capital Management Co. LP increased its stake in East West Bancorp by 1.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 656,405 shares of the financial services provider’s stock valued at $27,280,000 after buying an additional 10,340 shares during the period. Principal Financial Group Inc. increased its stake in East West Bancorp by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 454,919 shares of the financial services provider’s stock valued at $18,906,000 after buying an additional 11,536 shares during the period. Finally, Bank of Montreal Can increased its stake in East West Bancorp by 4.1% in the fourth quarter. Bank of Montreal Can now owns 293,485 shares of the financial services provider’s stock valued at $12,198,000 after buying an additional 11,539 shares during the period.

East West Bancorp, Inc (East West) 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 operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.

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