East West Bancorp (NASDAQ:EWBC) Given New $135.00 Price Target at Stephens

East West Bancorp (NASDAQ:EWBCFree Report) had its price objective raised by Stephens from $129.00 to $135.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on EWBC. Barclays boosted their target price on East West Bancorp from $142.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. UBS Group raised their price target on East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Piper Sandler lifted their price target on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, April 27th. TD Cowen upped their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Truist Financial raised their target price on shares of East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $139.08.

View Our Latest Stock Analysis on EWBC

East West Bancorp Stock Performance

East West Bancorp stock opened at $131.60 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a market cap of $18.03 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.94. East West Bancorp has a 1-year low of $92.67 and a 1-year high of $136.24. The firm has a 50-day moving average of $127.74 and a 200-day moving average of $119.34.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. The company had revenue of $791.14 million for the quarter, compared to the consensus estimate of $784.47 million. East West Bancorp had a return on equity of 16.26% and a net margin of 30.45%.East West Bancorp’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.24 EPS. Sell-side analysts expect that East West Bancorp will post 10.56 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a $0.80 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. East West Bancorp’s dividend payout ratio is 31.97%.

Insider Transactions at East West Bancorp

In other news, insider Irene H. Oh sold 11,211 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the sale, the insider owned 85,998 shares in the company, valued at approximately $11,093,742. The trade was a 11.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the sale, the insider directly owned 46,974 shares in the company, valued at $5,801,289. This represents a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 54,311 shares of company stock worth $6,784,711. Corporate insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Union Bankshares Corp purchased a new position in shares of East West Bancorp during the fourth quarter valued at approximately $31,000. Kelleher Financial Advisors purchased a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $31,000. Signaturefd LLC grew its stake in shares of East West Bancorp by 115.0% in the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after buying an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after buying an additional 113 shares in the last quarter. Finally, Quarry LP increased its position in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp News Summary

Here are the key news stories impacting East West Bancorp this week:

About East West Bancorp

(Get Free Report)

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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