East West Bancorp (NASDAQ:EWBC) PT Raised to $97.00

East West Bancorp (NASDAQ:EWBC) had its price target increased by Wells Fargo & Company from $95.00 to $97.00 in a research report released on Tuesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler lifted their price objective 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. Barclays lifted their price target on shares of East West Bancorp from $105.00 to $108.00 and gave the stock an overweight rating in a report on Friday, September 27th. Wedbush increased their price objective on East West Bancorp from $90.00 to $100.00 and gave the company an outperform rating in a report on Wednesday, July 24th. Jefferies Financial Group dropped their target price on East West Bancorp from $94.00 to $85.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Finally, StockNews.com raised East West Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of Moderate Buy and a consensus price target of $91.43.

East West Bancorp Stock Up 2.4 %

Shares of NASDAQ EWBC opened at $82.92 on Tuesday. The stock has a market capitalization of $11.54 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.80 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. East West Bancorp has a 12-month low of $50.20 and a 12-month high of $89.75. The stock’s fifty day simple moving average is $81.14 and its two-hundred day simple moving average is $77.25.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. As a group, analysts expect that East West Bancorp will post 8.17 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp 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 completion of the transaction, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 16,557 shares in the company, valued at $1,382,509.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,346 shares of company stock valued at $1,108,160 over the last quarter. 1.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY acquired a new stake in shares of East West Bancorp during the 1st quarter worth approximately $39,347,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in East West Bancorp during the first quarter valued at $3,961,000. Manning & Napier Advisors LLC purchased a new position in East West Bancorp in the second quarter valued at $3,832,000. Inspire Investing LLC raised its position in shares of East West Bancorp by 197.8% in the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 10,535 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in shares of East West Bancorp during the 1st quarter worth about $909,000. 89.53% of the stock is currently owned by hedge funds and other 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.