Morgan Stanley Cuts East West Bancorp (NASDAQ:EWBC) Price Target to $128.00

East West Bancorp (NASDAQ:EWBC) had its price objective cut by Morgan Stanley from $141.00 to $128.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other analysts have also recently commented on EWBC. Deutsche Bank Aktiengesellschaft initiated coverage on shares of East West Bancorp in a research note on Tuesday, December 16th. They set a “buy” rating and a $133.00 price objective for the company. Stephens raised their target price on shares of East West Bancorp from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. TD Cowen decreased their target price on shares of East West Bancorp from $141.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Keefe, Bruyette & Woods upped their price target on shares of East West Bancorp from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Piper Sandler increased their price target on East West Bancorp from $111.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, January 26th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.93.

East West Bancorp Trading Down 0.3%

Shares of NASDAQ:EWBC opened at $108.99 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. East West Bancorp has a 52-week low of $68.27 and a 52-week high of $123.82. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.42 and a beta of 0.90. The business has a 50-day moving average price of $111.93 and a 200-day moving average price of $109.35.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.04. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.The firm had revenue of $753.79 million for the quarter, compared to analyst estimates of $745.04 million. During the same quarter in the prior year, the firm earned $2.10 earnings per share. Equities analysts predict that East West Bancorp will post 8.85 EPS for the current year.

East West Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.80 per share. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.9%. East West Bancorp’s payout ratio is presently 33.61%.

Insider Activity

In related news, EVP Gary Teo sold 7,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $122.59, for a total transaction of $858,130.00. Following the sale, the executive vice president owned 5,252 shares in the company, valued at approximately $643,842.68. This trade represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 1,421 shares of East West Bancorp stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $119.00, for a total transaction of $169,099.00. Following the completion of the transaction, the director directly owned 13,553 shares of the company’s stock, valued at $1,612,807. The trade was a 9.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 60,221 shares of company stock valued at $7,139,287. 1.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its position in 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 purchasing an additional 321 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of East West Bancorp in the second quarter valued at approximately $274,000. Steward Partners Investment Advisory LLC increased its position in shares of East West Bancorp by 19.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,421 shares of the financial services provider’s stock valued at $345,000 after buying an additional 562 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of East West Bancorp by 17.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 8,585 shares of the financial services provider’s stock worth $867,000 after buying an additional 1,264 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of East West Bancorp by 8.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 52,766 shares of the financial services provider’s stock worth $5,328,000 after buying an additional 4,018 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.