East West Bancorp (NASDAQ:EWBC) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

A number of other research analysts have also issued reports on EWBC. Morgan Stanley boosted their price objective on East West Bancorp from $45.00 to $48.00 and gave the company an overweight rating in a research report on Monday, June 8th. Wells Fargo & Co restated a hold rating and set a $33.00 price objective (up previously from $31.00) on shares of East West Bancorp in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods lowered East West Bancorp from an outperform rating to a market perform rating and set a $34.00 price objective for the company. in a research report on Wednesday, April 1st. BMO Capital Markets boosted their price target on East West Bancorp from $34.00 to $36.00 and gave the stock a market perform rating in a research report on Friday, July 24th. Finally, Compass Point initiated coverage on East West Bancorp in a research report on Tuesday, April 14th. They set a neutral rating for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. East West Bancorp currently has an average rating of Hold and an average price target of $63.78.

Shares of NASDAQ:EWBC opened at $34.66 on Thursday. The company has a market cap of $4.90 billion, a P/E ratio of 8.33, a PEG ratio of 0.94 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. East West Bancorp has a one year low of $22.55 and a one year high of $51.88. The business’s 50-day simple moving average is $35.47 and its 200 day simple moving average is $36.73.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.70 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.04). East West Bancorp had a net margin of 29.90% and a return on equity of 12.18%. The company had revenue of $402.41 million for the quarter, compared to analysts’ expectations of $390.87 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that East West Bancorp will post 3.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Tuesday, August 4th will be issued a $0.275 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.10 annualized dividend and a dividend yield of 3.17%. East West Bancorp’s dividend payout ratio (DPR) is 22.73%.

Institutional investors have recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its holdings in shares of East West Bancorp by 4,068.0% in the second quarter. Jacobi Capital Management LLC now owns 30,176 shares of the financial services provider’s stock valued at $26,000 after buying an additional 29,452 shares during the period. Arden Trust Co acquired a new stake in shares of East West Bancorp in the first quarter valued at $38,000. Private Capital Group LLC lifted its holdings in shares of East West Bancorp by 39.1% in the first quarter. Private Capital Group LLC now owns 2,160 shares of the financial services provider’s stock valued at $56,000 after buying an additional 607 shares during the period. Smithfield Trust Co. lifted its holdings in shares of East West Bancorp by 2,775.0% in the first quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider’s stock valued at $59,000 after buying an additional 2,220 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of East West Bancorp in the second quarter valued at $77,000. Institutional investors and hedge funds own 87.61% of the company’s stock.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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