East West Bancorp, Inc. (NASDAQ:EWBC) Receives $88.60 Consensus Price Target from Analysts

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $88.60.

A number of equities research analysts have recently commented on the company. Truist Financial increased their target price on East West Bancorp from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays reduced their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Piper Sandler upped their target price on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods upped their price objective on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group reduced their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd.

Insider Transactions at East West Bancorp

In related news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The disclosure for this sale can be found here. Insiders have sold 23,346 shares of company stock worth $1,834,960 in the last quarter. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of East West Bancorp during the 1st quarter valued at $25,000. YHB Investment Advisors Inc. purchased a new position in shares of East West Bancorp in the first quarter valued at about $27,000. Kapitalo Investimentos Ltda bought a new position in shares of East West Bancorp in the fourth quarter worth about $29,000. Rise Advisors LLC purchased a new stake in shares of East West Bancorp during the first quarter worth about $30,000. Finally, American Capital Advisory LLC bought a new stake in East West Bancorp during the 2nd quarter valued at approximately $31,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.4 %

Shares of NASDAQ EWBC opened at $87.89 on Friday. East West Bancorp has a 1 year low of $49.59 and a 1 year high of $89.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $75.24 and a 200 day moving average of $74.65. The stock has a market cap of $12.23 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. The firm had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $2.20 earnings per share. As a group, sell-side analysts expect that East West Bancorp will post 8.15 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

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

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.