East West Bancorp, Inc. (NASDAQ:EWBC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $88.63.

Several research firms have issued reports on EWBC. Piper Sandler raised their price target on shares of East West Bancorp to $74.00 in a research report on Monday, July 25th. Truist Financial reduced their price objective on shares of East West Bancorp from $100.00 to $80.00 in a report on Wednesday, June 15th. Wells Fargo & Company raised their price objective on shares of East West Bancorp from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Jefferies Financial Group reduced their price objective on shares of East West Bancorp from $102.00 to $79.00 in a report on Monday, July 11th. Finally, Wedbush lifted their price target on shares of East West Bancorp to $80.00 in a report on Friday, July 22nd.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $70.19 on Wednesday. East West Bancorp has a 1 year low of $61.65 and a 1 year high of $93.51. The firm’s fifty day simple moving average is $68.37 and its 200 day simple moving average is $75.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $9.99 billion, a PE ratio of 10.70, a PEG ratio of 0.92 and a beta of 1.53.

East West Bancorp (NASDAQ:EWBCGet Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.13. The business had revenue of $551.00 million for the quarter, compared to analyst estimates of $525.37 million. East West Bancorp had a net margin of 45.32% and a return on equity of 16.45%. East West Bancorp’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business posted $1.57 EPS. On average, sell-side analysts anticipate that East West Bancorp will post 7.79 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. East West Bancorp’s dividend payout ratio (DPR) is currently 24.39%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. River Oaks Capital LLC bought a new position in East West Bancorp during the 4th quarter valued at $1,857,000. Schroder Investment Management Group purchased a new position in East West Bancorp during the 4th quarter valued at about $111,991,000. JPMorgan Chase & Co. grew its holdings in shares of East West Bancorp by 95.3% during the first quarter. JPMorgan Chase & Co. now owns 2,273,736 shares of the financial services provider’s stock worth $179,670,000 after purchasing an additional 1,109,530 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of East West Bancorp by 59.8% during the fourth quarter. Bank of America Corp DE now owns 2,909,602 shares of the financial services provider’s stock worth $228,927,000 after purchasing an additional 1,088,300 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of East West Bancorp during the first quarter worth about $42,620,000. Institutional investors own 89.44% of the company’s stock.

About East West Bancorp

(Get Rating)

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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

See Also

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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