East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Monday, November 4th will be paid a dividend of 0.55 per share by the financial services provider on Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, November 4th.
East West Bancorp has increased its dividend by an average of 20.4% annually over the last three years. East West Bancorp has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect East West Bancorp to earn $8.50 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 25.9%.
East West Bancorp Trading Up 5.8 %
Shares of EWBC stock opened at $95.63 on Thursday. The company has a market capitalization of $13.31 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $83.31 and its two-hundred day moving average is $78.36. East West Bancorp has a twelve month low of $51.40 and a twelve month high of $98.95.
Wall Street Analysts Forecast Growth
EWBC has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays boosted their price target on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com downgraded East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Wedbush lifted their target price on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, DA Davidson lifted their price objective on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research 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, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $97.77.
View Our Latest Stock Analysis on EWBC
Insider Transactions at East West Bancorp
In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at approximately $1,486,343.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 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 completion of the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,346 shares of company stock worth $1,108,160 over the last quarter. 1.04% of the stock is currently owned by insiders.
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.
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