Brokerages Set East West Bancorp, Inc. (EWBC) Price Target at $70.30

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $70.30.

EWBC has been the topic of a number of research analyst reports. SunTrust Banks reissued a “buy” rating and set a $68.00 price objective on shares of East West Bancorp in a report on Wednesday, November 29th. Sandler O’Neill reissued a “buy” rating and set a $76.00 price objective on shares of East West Bancorp in a report on Friday, January 26th. Piper Jaffray Companies reissued a “buy” rating and set a $79.00 price objective on shares of East West Bancorp in a report on Tuesday, January 9th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, January 8th. Finally, ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.

Shares of East West Bancorp (EWBC) traded down $0.72 on Tuesday, hitting $66.69. 1,590,978 shares of the stock were exchanged, compared to its average volume of 862,334. The stock has a market capitalization of $9,640.00, a price-to-earnings ratio of 18.37, a PEG ratio of 1.48 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. East West Bancorp has a 12-month low of $48.07 and a 12-month high of $69.25.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The company had revenue of $365.06 million for the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. East West Bancorp’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. equities research analysts forecast that East West Bancorp will post 4.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. East West Bancorp’s dividend payout ratio is presently 22.04%.

In other East West Bancorp news, CFO Irene H. Oh sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $68.29, for a total value of $341,450.00. Following the completion of the transaction, the chief financial officer now owns 38,021 shares in the company, valued at $2,596,454.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.50, for a total transaction of $137,000.00. Following the completion of the transaction, the director now owns 21,599 shares of the company’s stock, valued at approximately $1,479,531.50. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $918,130 over the last 90 days. 0.88% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the business. Colonial Trust Advisors raised its position in shares of East West Bancorp by 36.9% in the fourth quarter. Colonial Trust Advisors now owns 69,539 shares of the financial services provider’s stock worth $4,230,000 after acquiring an additional 18,751 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of East West Bancorp by 3.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 40,431 shares of the financial services provider’s stock worth $2,459,000 after acquiring an additional 1,284 shares during the period. Handelsbanken Fonder AB raised its position in shares of East West Bancorp by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 2,349,611 shares of the financial services provider’s stock worth $142,927,000 after acquiring an additional 260,000 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of East West Bancorp by 107.4% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 2,900 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new position in shares of East West Bancorp in the fourth quarter worth about $5,563,000. Institutional investors and hedge funds own 91.66% of the company’s stock.

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East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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