East West Bancorp (NASDAQ:EWBC) Price Target Raised to $100.00 at DA Davidson

East West Bancorp (NASDAQ:EWBC) had its target price raised by DA Davidson from $92.00 to $100.00 in a research report sent to investors on Wednesday, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for East West Bancorp’s Q3 2024 earnings at $2.09 EPS.

EWBC has been the subject of a number of other research reports. StockNews.com raised shares of East West Bancorp from a sell rating to a hold rating in a research note on Wednesday, July 17th. Wedbush reiterated an outperform rating and issued a $90.00 target price on shares of East West Bancorp in a research report on Wednesday, April 24th. Truist Financial lowered their price target on shares of East West Bancorp from $86.00 to $80.00 and set a buy rating on the stock in a report on Monday, July 8th. Stephens increased their price objective on East West Bancorp from $85.00 to $86.00 and gave the stock an overweight rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group lowered their target price on East West Bancorp from $94.00 to $85.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $88.60.

East West Bancorp Trading Up 1.1 %

Shares of NASDAQ:EWBC opened at $87.97 on Wednesday. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 2.98 and a beta of 1.32. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $88.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.92. The company has a 50 day moving average price of $74.52 and a 200 day moving average price of $74.33.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same period last year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts anticipate that East West Bancorp will post 8.12 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

Insider Activity at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the sale, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the transaction, the insider now directly 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 SEC, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the sale, the insider now directly owns 57,403 shares of the company’s stock, valued at $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 Investors Weigh In On East West Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of EWBC. Riverview Trust Co acquired a new stake in shares of East West Bancorp in the first quarter worth $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of East West Bancorp in the first quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the fourth quarter worth $29,000. Rise Advisors LLC acquired a new stake in shares of East West Bancorp in the first quarter worth $30,000. Finally, Mather Group LLC. acquired a new stake in shares of East West Bancorp in the first quarter worth $35,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Company Profile

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.