East West Bancorp (NASDAQ:EWBC) Price Target Lowered to $80.00 at Truist Financial

East West Bancorp (NASDAQ:EWBC) had its price objective reduced by Truist Financial from $86.00 to $80.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts also recently commented on EWBC. Compass Point boosted their target price on East West Bancorp from $83.00 to $88.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Stephens boosted their target price on East West Bancorp from $85.00 to $86.00 and gave the company an overweight rating in a research note on Wednesday, April 24th. Citigroup boosted their target price on East West Bancorp from $85.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Wedbush restated an outperform rating and issued a $90.00 target price on shares of East West Bancorp in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods upped their price target on East West Bancorp from $82.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $83.31.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $75.77 on Monday. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $79.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 3.60 and a beta of 1.32. The stock’s fifty day simple moving average is $73.54 and its 200-day simple moving average is $73.57.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The business had revenue of $644.13 million for the quarter, compared to the consensus estimate of $636.77 million. During the same quarter in the previous year, the company posted $2.32 earnings per share. East West Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts predict that East West Bancorp will post 8.03 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.

Insider Activity

In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the transaction, the insider now owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the sale, the insider now owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the sale, the insider now directly owns 57,403 shares in the company, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Institutional Trading of East West Bancorp

Several hedge funds have recently added to or reduced their stakes in EWBC. Riverview Trust Co acquired a new stake in East West Bancorp during the 1st quarter worth $25,000. YHB Investment Advisors Inc. acquired a new stake in East West Bancorp during the 1st quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the 4th quarter valued at about $29,000. Rise Advisors LLC acquired a new stake in shares of East West Bancorp in the 1st quarter valued at about $30,000. Finally, Mather Group LLC. acquired a new stake in shares of East West Bancorp in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

About East West Bancorp

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.