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

Shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $68.86.

Several research firms recently weighed in on EWBC. Truist Financial reduced their price target on shares of East West Bancorp from $64.00 to $62.00 in a research report on Thursday, June 29th. 92 Resources reiterated a “maintains” rating on shares of East West Bancorp in a report on Thursday, June 29th. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley reissued an “equal weight” rating and set a $56.00 target price on shares of East West Bancorp in a research report on Monday, July 24th. Finally, Wedbush increased their price objective on East West Bancorp from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st.

View Our Latest Report on East West Bancorp

East West Bancorp Stock Down 1.6 %

Shares of NASDAQ:EWBC opened at $55.14 on Wednesday. The company has a 50-day moving average price of $56.92 and a 200 day moving average price of $55.93. East West Bancorp has a 12 month low of $33.86 and a 12 month high of $80.98. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.67 and a beta of 1.45. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBCGet Free Report) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. The business had revenue of $645.00 million for the quarter, compared to the consensus estimate of $660.49 million. East West Bancorp had a return on equity of 20.86% and a net margin of 37.14%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, equities research analysts predict that East West Bancorp will post 8.4 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, July 31st. East West Bancorp’s payout ratio is 21.52%.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 2,411 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $55.96, for a total transaction of $134,919.56. Following the completion of the sale, the director now directly owns 18,548 shares in the company, valued at $1,037,946.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL bought a new position in East West Bancorp in the second quarter valued at about $2,333,000. Comerica Bank bought a new stake in East West Bancorp in the 2nd quarter valued at about $40,960,000. Nuveen Asset Management LLC boosted its stake in East West Bancorp by 4.9% in the second quarter. Nuveen Asset Management LLC now owns 967,239 shares of the financial services provider’s stock valued at $51,061,000 after buying an additional 45,395 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of East West Bancorp in the second quarter valued at approximately $427,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in East West Bancorp by 48.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 742 shares during the period. 87.11% of the stock is owned by institutional investors.

East West Bancorp Company Profile

(Get Free Report

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

Further Reading

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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