East West Bancorp (NASDAQ:EWBC) Lowered to “Equal Weight” Rating by Stephens

Stephens downgraded shares of East West Bancorp (NASDAQ:EWBC) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, Marketbeat reports.

Other analysts also recently issued reports about the company. Wells Fargo & Company lifted their target price on East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Truist Financial lifted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. DA Davidson raised their target price on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler boosted their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $107.92.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $102.84 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp has a 12 month low of $67.03 and a 12 month high of $113.95. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 3.06 and a beta of 1.28. The firm’s 50-day moving average is $98.19 and its 200 day moving average is $84.98.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Research analysts predict that East West Bancorp will post 8.38 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.55 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.14%. East West Bancorp’s dividend payout ratio is presently 27.78%.

Insider Transactions at East West Bancorp

In other news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total value of $147,975.00. Following the transaction, the director now owns 10,639 shares of the company’s stock, valued at $1,049,537.35. The trade was a 12.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares of the company’s stock, valued at approximately $4,840,413.83. This trade represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,969 shares of company stock valued at $2,458,276. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of EWBC. Covestor Ltd boosted its position in shares of East West Bancorp by 7.4% in the 3rd quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 106 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in East West Bancorp by 2.8% in the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 128 shares in the last quarter. Lindenwold Advisors INC grew its stake in shares of East West Bancorp by 1.8% during the third quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider’s stock worth $602,000 after acquiring an additional 129 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of East West Bancorp by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 133 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of East West Bancorp by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 141 shares during the last quarter. 89.53% of the stock is 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.