East West Bancorp (NASDAQ:EWBC) Now Covered by TD Cowen

TD Cowen began coverage on shares of East West Bancorp (NASDAQ:EWBC) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $139.00 target price on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Citigroup boosted their target price on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Wells Fargo & Company boosted their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Barclays boosted their target price on shares of East West Bancorp from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Truist Financial boosted their target price on shares of East West Bancorp from $102.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.13.

East West Bancorp Trading Up 2.0%

NASDAQ:EWBC opened at $107.91 on Thursday. East West Bancorp has a twelve month low of $68.27 and a twelve month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $104.68 and a two-hundred day moving average price of $95.66. The company has a market cap of $14.87 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.05. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%.The firm had revenue of $705.00 million during the quarter, compared to the consensus estimate of $702.04 million. During the same quarter in the prior year, the firm posted $2.07 EPS. The business’s revenue was up 10.3% on a year-over-year basis. As a group, analysts expect that East West Bancorp will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.2%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.04%.

Insiders Place Their Bets

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 14,974 shares of the company’s stock, valued at $1,572,270. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction on Monday, July 28th. The stock was sold at an average price of $103.38, for a total value of $4,135,200.00. Following the sale, the chief executive officer directly owned 888,314 shares of the company’s stock, valued at $91,833,901.32. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,240 shares of company stock worth $7,379,678. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. increased its position in East West Bancorp by 99.0% during the second quarter. Centaurus Financial Inc. now owns 13,702 shares of the financial services provider’s stock worth $1,384,000 after acquiring an additional 6,817 shares during the period. Thrivent Financial for Lutherans increased its position in East West Bancorp by 4.0% during the second quarter. Thrivent Financial for Lutherans now owns 77,688 shares of the financial services provider’s stock worth $7,845,000 after acquiring an additional 3,012 shares during the period. State of Wyoming bought a new position in East West Bancorp during the second quarter worth about $142,000. Geneos Wealth Management Inc. increased its position in East West Bancorp by 22.6% during the second quarter. Geneos Wealth Management Inc. now owns 982 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 181 shares during the period. Finally, Evergreen Capital Management LLC bought a new position in East West Bancorp during the second quarter worth about $205,000. 89.53% of the stock is owned by institutional investors.

About East West Bancorp

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.