East West Bancorp (NASDAQ:EWBC) Given New $108.00 Price Target at Barclays

East West Bancorp (NASDAQ:EWBC) had its price target hoisted by Barclays from $105.00 to $108.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Wedbush lifted their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. Morgan Stanley increased their price target on East West Bancorp from $95.00 to $103.00 and gave the company an overweight rating in a report on Monday, August 5th. StockNews.com raised East West Bancorp from a sell rating to a hold rating in a report on Wednesday, July 17th. Finally, DA Davidson upped their price objective on East West Bancorp from $92.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $89.73.

East West Bancorp Stock Up 1.5 %

EWBC opened at $82.74 on Friday. The business has a 50 day moving average of $81.50 and a 200-day moving average of $77.05. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.80 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $89.75.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. As a group, sell-side analysts anticipate that East West Bancorp will post 8.17 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Buying and Selling at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. Insiders have sold a total of 13,346 shares of company stock valued at $1,108,160 over the last ninety days. 1.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors purchased a new position in shares of East West Bancorp during the first quarter valued at about $338,142,000. Jupiter Asset Management Ltd. bought a new stake in East West Bancorp in the 2nd quarter worth approximately $59,460,000. Lord Abbett & CO. LLC raised its holdings in shares of East West Bancorp by 112.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after acquiring an additional 762,958 shares in the last quarter. Jennison Associates LLC boosted its position in shares of East West Bancorp by 82.2% during the 1st quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after acquiring an additional 761,347 shares during the last quarter. Finally, Miller Howard Investments Inc. NY bought a new position in shares of East West Bancorp during the 1st quarter valued at approximately $39,347,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.