Barclays Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $108.00

East West Bancorp (NASDAQ:EWBC) had its price objective raised by Barclays from $105.00 to $108.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Jefferies Financial Group lowered their target price on shares of East West Bancorp from $94.00 to $85.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. Wells Fargo & Company upped their target price on shares of East West Bancorp from $85.00 to $95.00 and gave the stock an overweight rating in a research report on Wednesday, July 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 report on Wednesday, July 24th. Morgan Stanley upped their target price on shares of East West Bancorp from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Monday, August 5th. Finally, Wedbush increased their price target on shares of East West Bancorp from $90.00 to $100.00 and gave the company an outperform rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $89.53.

East West Bancorp Trading Up 0.4 %

NASDAQ EWBC opened at $81.53 on Friday. The stock has a market capitalization of $11.34 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.80 and a beta of 1.29. East West Bancorp has a 52-week low of $49.59 and a 52-week high of $89.75. The firm has a 50-day moving average price of $81.50 and a 200 day moving average price of $77.05. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.10. The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Equities research analysts expect that East West Bancorp will post 8.17 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Activity

In other news, EVP Gary Teo sold 3,450 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,392,713.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock valued at $1,108,160 in the last 90 days. 1.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On East West Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its position in shares of East West Bancorp by 2.8% during the 2nd quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 128 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of East West Bancorp by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 133 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of East West Bancorp by 3.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 160 shares in the last quarter. OLD National Bancorp IN raised its position in shares of East West Bancorp by 6.4% during the 2nd quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 175 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of East West Bancorp by 2.0% during the 2nd quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 89.53% 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.