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 research firms have weighed in on EWBC. Keefe, Bruyette & Woods cut East West Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $44.00 to $41.00 in a research report on Thursday, April 28th. Deutsche Bank AG reaffirmed a “buy” rating on shares of East West Bancorp in a research report on Sunday, May 22nd. Barclays PLC lifted their price objective on East West Bancorp from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, May 3rd. Finally, Macquarie raised East West Bancorp from a “neutral” rating to an “outperform” rating in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company 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 firm has a market cap of $5.08 billion and a price-to-earnings ratio of 12.90.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. During the same quarter in the previous year, the business earned $0.68 earnings per share. Equities analysts anticipate that East West Bancorp Inc. will post $2.85 earnings per share for the current fiscal year.

The company also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, July 28th.

In other news, EVP Wendy H. Cai-Lee sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $36.37, for a total transaction of $43,644.00. Following the transaction, the executive vice president now directly owns 43,789 shares of the company’s stock, valued at $1,592,605.93. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several institutional investors recently modified their holdings of the company. Parsons Capital Management Inc. RI raised its position in shares of 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 worth $1,497,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. raised its position in shares of 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 worth $1,028,000 after buying an additional 3,920 shares during the period. Westfield Capital Management Co. LP raised its position in shares of 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 worth $27,280,000 after buying an additional 10,340 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 worth $18,906,000 after buying an additional 11,536 shares during the period. Finally, Bank of Montreal Can raised its position in shares of 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 worth $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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.