East West Bancorp, Inc. (NASDAQ:EWBC) Receives $107.85 Consensus Target Price from Analysts

East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $107.85.

EWBC has been the subject of several recent research reports. DA Davidson lowered their target price on shares of East West Bancorp from $118.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley cut East West Bancorp from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $118.00 to $90.00 in a research report on Monday, April 7th. Truist Financial began coverage on East West Bancorp in a research report on Tuesday, May 13th. They issued a “hold” rating and a $102.00 price objective on the stock. Jefferies Financial Group began coverage on East West Bancorp in a research report on Wednesday, May 21st. They issued a “buy” rating and a $115.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on East West Bancorp from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th.

Get Our Latest Research Report on EWBC

Insider Activity

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00. Following the transaction, the chief executive officer now directly owns 928,314 shares in the company, valued at $89,517,319.02. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the transaction, the executive vice president now owns 14,849 shares in the company, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EWBC. Invesco Ltd. raised its holdings in shares of East West Bancorp by 155.6% during the first quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider’s stock worth $692,468,000 after purchasing an additional 4,696,157 shares during the last quarter. Norges Bank purchased a new position in shares of East West Bancorp during the fourth quarter worth $166,590,000. Earnest Partners LLC purchased a new position in shares of East West Bancorp during the first quarter worth $137,390,000. Nuveen LLC purchased a new position in shares of East West Bancorp during the first quarter worth $83,330,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of East West Bancorp by 1,667.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider’s stock worth $64,174,000 after purchasing an additional 632,245 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Up 1.6%

NASDAQ EWBC opened at $95.08 on Tuesday. The business’s 50-day moving average is $89.22 and its 200 day moving average is $92.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $13.10 billion, a PE ratio of 11.35, a PEG ratio of 1.29 and a beta of 0.92. East West Bancorp has a 1 year low of $68.27 and a 1 year high of $113.95.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $693.00 million for the quarter, compared to analysts’ expectations of $673.02 million. East West Bancorp had a return on equity of 15.23% and a net margin of 25.73%. Sell-side analysts forecast that East West Bancorp will post 8.85 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, May 2nd. East West Bancorp’s dividend payout ratio is 28.64%.

About East West Bancorp

(Get Free Report

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.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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