East West Bancorp (NASDAQ:EWBC) Price Target Raised to $103.00

East West Bancorp (NASDAQ:EWBC) had its target price lifted by Morgan Stanley from $95.00 to $103.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

EWBC has been the subject of a number of other research reports. Stephens raised their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Barclays dropped their target price on East West Bancorp from $106.00 to $105.00 and set an overweight rating for the company in a research report on Monday, June 24th. Truist Financial upped their price target on East West Bancorp from $80.00 to $96.00 and gave the company a buy rating in a research note on Thursday, July 25th. Wedbush lifted their price objective on East West Bancorp from $90.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price objective on East West Bancorp from $85.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $89.53.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $78.51 on Monday. The business has a fifty day moving average of $75.78 and a 200-day moving average of $74.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp has a twelve month low of $49.59 and a twelve month high of $89.75. The firm has a market cap of $10.92 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 2.84 and a beta of 1.32.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The firm had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue was down .9% on a year-over-year basis. On average, equities research analysts predict that East West Bancorp will post 8.15 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,346 shares of company stock worth $1,531,240. 1.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors have recently modified their holdings of the business. Capital Research Global Investors bought a new stake in East West Bancorp during the 1st quarter worth approximately $338,142,000. Norges Bank bought a new stake in shares of East West Bancorp during the fourth quarter worth $115,369,000. Westfield Capital Management Co. LP acquired a new stake in shares of East West Bancorp during the fourth quarter worth $67,692,000. Boston Partners raised its holdings in shares of East West Bancorp by 48.5% during the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after acquiring an additional 886,841 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in East West Bancorp in the 2nd quarter valued at $59,460,000. Institutional investors own 89.53% of the company’s stock.

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.