Favorable Media Coverage Somewhat Likely to Affect East West Bancorp (EWBC) Stock Price

Media coverage about East West Bancorp (NASDAQ:EWBC) has been trending positive recently, AlphaOne reports. The research group, a division of Accern, identifies negative and positive media coverage by monitoring more than twenty million news and blog sources in real-time. AlphaOne ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. East West Bancorp earned a coverage optimism score of 0.26 on AlphaOne’s scale. AlphaOne also gave media headlines about the financial services provider an impact score of 58 out of 100, indicating that recent media coverage is somewhat likely to have an impact on the company’s share price in the next few days.

Shares of East West Bancorp (NASDAQ:EWBC) opened at 54.45 on Friday. East West Bancorp has a 52 week low of $31.34 and a 52 week high of $57.24. The firm has a market capitalization of $7.87 billion, a P/E ratio of 16.06 and a beta of 1.29. The firm’s 50-day moving average is $53.64 and its 200 day moving average is $51.17.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.14. East West Bancorp had a net margin of 32.69% and a return on equity of 13.09%. The firm had revenue of $388.15 million for the quarter, compared to the consensus estimate of $314.52 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities research analysts forecast that East West Bancorp will post $3.70 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.80 annualized dividend and a yield of 1.47%. East West Bancorp’s payout ratio is 26.94%.

Several equities research analysts recently commented on EWBC shares. Zacks Investment Research cut East West Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 9th. BMO Capital Markets reissued a “buy” rating and set a $62.00 target price on shares of East West Bancorp in a report on Friday, January 27th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of East West Bancorp in a report on Thursday, March 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $56.00 price target on shares of East West Bancorp in a report on Wednesday, April 5th. Finally, Piper Jaffray Companies dropped their price target on East West Bancorp to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.67.

WARNING: “Favorable Media Coverage Somewhat Likely to Affect East West Bancorp (EWBC) Stock Price” was originally posted by BBNS and is the sole property of of BBNS. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/east-west-bancorp-ewbc-earns-daily-news-sentiment-rating-of-0-26-updated-updated-updated/638294.html.

In other news, CEO Dominic Ng sold 26,200 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $54.08, for a total value of $1,416,896.00. Following the completion of the sale, the chief executive officer now owns 622,357 shares in the company, valued at $33,657,066.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas Paul Krause sold 15,000 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $54.39, for a total transaction of $815,850.00. Following the completion of the sale, the insider now owns 41,856 shares of the company’s stock, valued at approximately $2,276,547.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,674 shares of company stock worth $9,591,440. Corporate insiders own 0.88% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

12 Month Chart for NASDAQ:EWBC

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