East West Bancorp (NASDAQ:EWBC) PT Raised to $104.00 at Stephens

East West Bancorp (NASDAQ:EWBC) had its price objective raised by Stephens from $91.00 to $104.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

EWBC has been the topic of several other research reports. Wedbush upped their price objective on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler upped their target price on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup lifted their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.46.

East West Bancorp Price Performance

EWBC stock traded down $0.86 during trading on Thursday, hitting $96.33. 67,883 shares of the stock traded hands, compared to its average volume of 928,182. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.08 and a beta of 1.29. The company has a 50 day simple moving average of $83.66 and a 200 day simple moving average of $78.49. 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 one year low of $52.29 and a one year high of $98.95.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same quarter in the prior year, the business earned $2.02 earnings per share. Equities analysts expect that East West Bancorp will post 8.2 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.28%. East West Bancorp’s dividend payout ratio (DPR) is 27.71%.

Insider Transactions at East West Bancorp

In other news, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the sale, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds have recently made changes to their positions in EWBC. Riverview Trust Co bought a new stake in East West Bancorp in the 1st quarter valued at about $25,000. Oak Thistle LLC purchased a new stake in East West Bancorp during the 1st quarter worth about $262,000. State of Michigan Retirement System boosted its stake in East West Bancorp by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 34,622 shares of the financial services provider’s stock worth $2,739,000 after purchasing an additional 800 shares during the period. Norden Group LLC purchased a new stake in shares of East West Bancorp in the 1st quarter valued at about $414,000. Finally, First Trust Direct Indexing L.P. bought a new stake in East West Bancorp during the first quarter valued at approximately $206,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Company Profile

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.