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

Posted by admin on Aug 3rd, 2022

East West Bancorp, Inc. (NASDAQ:EWBC – Get 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:EWBC – Get 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

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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.