East West Bancorp (NASDAQ:EWBC) Price Target Raised to $85.00 at Keefe, Bruyette & Woods

East West Bancorp (NASDAQ:EWBC) had its target price lifted by Keefe, Bruyette & Woods from $82.00 to $85.00 in a report released on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on EWBC. Piper Sandler lifted their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. Stephens boosted their price target on shares of East West Bancorp from $85.00 to $86.00 and gave the stock an overweight rating in a research report on Wednesday. Wedbush restated an outperform rating and set a $90.00 price target on shares of East West Bancorp in a research report on Wednesday. Jefferies Financial Group boosted their price target on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Barclays assumed coverage on shares of East West Bancorp in a research report on Friday, March 8th. They set an overweight rating and a $106.00 price target on the stock. One 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’s stock. Based on data from MarketBeat, East West Bancorp presently has an average rating of Moderate Buy and a consensus target price of $84.38.

East West Bancorp Trading Up 2.5 %

Shares of NASDAQ:EWBC opened at $77.20 on Wednesday. The company has a market cap of $10.74 billion, a PE ratio of 9.72, a P/E/G ratio of 0.96 and a beta of 1.39. The company’s 50-day moving average price is $74.69 and its 200 day moving average price is $68.34. East West Bancorp has a fifty-two week low of $41.12 and a fifty-two week high of $79.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBC) last issued 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 firm had revenue of $644.13 million for the quarter, compared to the consensus estimate of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. East West Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $2.32 EPS. Sell-side analysts anticipate that East West Bancorp will post 7.87 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.85%. East West Bancorp’s dividend payout ratio is 27.71%.

Insiders Place Their Bets

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

Institutional Trading of East West Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new stake in shares of East West Bancorp in the first quarter worth $249,000. Louisiana State Employees Retirement System lifted its stake in shares of East West Bancorp by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 40,600 shares of the financial services provider’s stock worth $3,212,000 after buying an additional 1,000 shares during the last quarter. Amalgamated Bank lifted its stake in shares of East West Bancorp by 1.5% in the first quarter. Amalgamated Bank now owns 95,870 shares of the financial services provider’s stock worth $7,584,000 after buying an additional 1,373 shares during the last quarter. RBA Wealth Management LLC lifted its stake in shares of East West Bancorp by 1.7% in the first quarter. RBA Wealth Management LLC now owns 55,023 shares of the financial services provider’s stock worth $4,353,000 after buying an additional 896 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in shares of East West Bancorp in the first quarter worth $206,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Company Profile

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.