Analysts Set East West Bancorp, Inc. (NASDAQ:EWBC) PT at $92.77

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $92.77.

A number of equities analysts have commented on EWBC shares. Wedbush lifted their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson lifted their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on shares of East West Bancorp from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company lifted their price objective on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Truist Financial lowered their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th.

Insider Activity at East West Bancorp

In related news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,346 shares of company stock worth $1,108,160 in the last 90 days. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EWBC. Riverview Trust Co purchased a new position in shares of East West Bancorp in the 1st quarter worth approximately $25,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp in the 4th quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in shares of East West Bancorp in the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of East West Bancorp in the 2nd quarter worth approximately $30,000. Finally, UMB Bank n.a. grew its position in shares of East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after buying an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Performance

EWBC opened at $89.30 on Thursday. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 2.08 and a beta of 1.29. The company has a fifty day moving average of $81.38 and a 200 day moving average of $77.62. East West Bancorp has a fifty-two week low of $50.23 and a fifty-two week high of $89.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same period last year, the company posted $2.20 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts forecast that East West Bancorp will post 8.2 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.46%. East West Bancorp’s payout ratio is 27.71%.

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.