East West Bancorp (NASDAQ:EWBC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other equities analysts have also issued reports about the stock. Citigroup reiterated a “buy” rating on shares of East West Bancorp in a research note on Thursday, July 23rd. Piper Sandler boosted their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. TD Cowen upped their target price on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley increased their target price on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, DA Davidson lifted their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $140.23.

East West Bancorp Trading Up 0.1%

NASDAQ:EWBC opened at $131.00 on Friday. The stock has a 50-day simple moving average of $129.01 and a 200-day simple moving average of $120.00. The stock has a market cap of $17.95 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.52 and a beta of 0.94. East West Bancorp has a 1 year low of $92.67 and a 1 year high of $136.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The business had revenue of $791.14 million for the quarter, compared to the consensus estimate of $784.47 million. During the same quarter in the prior year, the business posted $2.24 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, analysts anticipate that East West Bancorp will post 10.59 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.20 annualized dividend and a yield of 2.4%. East West Bancorp’s payout ratio is 30.77%.

Insider Buying and Selling at East West Bancorp

In other news, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total value of $106,552.00. Following the transaction, the insider directly owned 84,698 shares of the company’s stock, valued at $11,280,926.62. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the sale, the insider owned 46,974 shares of the company’s stock, valued at approximately $5,801,289. This trade represents a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 52,511 shares of company stock worth $6,558,721. 0.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in shares of East West Bancorp by 66.9% during the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after buying an additional 321 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of East West Bancorp during the second quarter worth about $274,000. Baird Financial Group Inc. acquired a new position in East West Bancorp in the 2nd quarter valued at about $290,000. Marshall Wace LLP increased its position in East West Bancorp by 34.3% in the 2nd quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 823 shares during the period. Finally, Cerity Partners LLC raised its stake 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 valued at $3,568,000 after acquiring an additional 19,178 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.