East West Bancorp, Inc. (NASDAQ:EWBC) Given Consensus Rating of “Moderate Buy” by Brokerages

East West Bancorp, Inc. (NASDAQ:EWBC) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $133.6923.

Several brokerages have recently issued reports on EWBC. UBS Group lifted their price target on East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Truist Financial lifted their price target on East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Morgan Stanley decreased their price target on East West Bancorp from $141.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. TD Cowen lifted their price target on East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 price target on shares of East West Bancorp in a research note on Wednesday, April 22nd.

East West Bancorp Trading Up 0.3%

Shares of EWBC opened at $126.26 on Tuesday. East West Bancorp has a 52-week low of $90.79 and a 52-week high of $127.54. The business’s fifty day moving average is $119.41 and its 200-day moving average is $114.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.54 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The company had revenue of $773.75 million for the quarter, compared to analyst estimates of $767.80 million. During the same quarter last year, the company posted $2.08 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts anticipate that East West Bancorp will post 10.6 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were given a dividend of $0.80 per share. The ex-dividend date was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp’s payout ratio is currently 31.97%.

Insider Buying and Selling

In related news, CEO Dominic Ng sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the sale, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. The trade was a 4.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the sale, the insider owned 46,974 shares in the company, valued at $5,801,289. This represents a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,800 shares of company stock worth $5,165,690 in the last 90 days. Insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of EWBC. Geneos Wealth Management Inc. grew its position in East West Bancorp by 66.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 321 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in East West Bancorp during the 2nd quarter worth $274,000. Baird Financial Group Inc. bought a new stake in East West Bancorp during the 2nd quarter worth $290,000. Marshall Wace LLP grew its position in East West Bancorp by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock worth $325,000 after acquiring an additional 823 shares during the last quarter. Finally, Cerity Partners LLC grew its position in East West Bancorp by 118.7% during the 2nd quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider’s stock worth $3,568,000 after acquiring an additional 19,178 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

About East West Bancorp

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.