East West Bancorp (NASDAQ:EWBC) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of East West Bancorp (NASDAQ:EWBCFree Report) in a research note released on Wednesday, Marketbeat Ratings reports. Cantor Fitzgerald currently has a $150.00 price objective on the financial services provider’s stock.

EWBC has been the topic of a number of other research reports. Citigroup upped their price target on shares of East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Weiss Ratings restated a “buy (b)” rating on shares of East West Bancorp in a report on Friday, July 10th. Wall Street Zen downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Piper Sandler upped their target price on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Morgan Stanley increased their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.08.

Check Out Our Latest Analysis on EWBC

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $131.60 on Wednesday. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 12.65, a PEG 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 stock’s 50 day simple moving average is $127.74 and its two-hundred day simple moving average is $119.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

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

East West Bancorp Dividend Announcement

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

Insider Buying and Selling

In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares of the company’s stock, valued at $87,422,275.70. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Irene H. Oh sold 800 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider owned 84,698 shares in the company, valued at $11,280,926.62. This trade represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,311 shares of company stock valued at $6,784,711 in the last three months. Corporate insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several hedge funds have recently added to or reduced their stakes in EWBC. Atlantic Union Bankshares Corp purchased a new stake in East West Bancorp in the 4th quarter worth about $31,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the third quarter worth about $31,000. Signaturefd LLC boosted its position in shares of East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock valued at $39,000 after buying an additional 184 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of East West Bancorp by 44.7% during the third 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 during the period. Finally, Quarry LP grew its stake in shares of East West Bancorp by 35.4% during the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after buying an additional 102 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp News Summary

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

East West Bancorp Company Profile

(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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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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