Piper Jaffray Companies restated their buy rating on shares of East West Bancorp (NASDAQ:EWBC) in a research note released on Tuesday, January 9th. Piper Jaffray Companies currently has a $79.00 price objective on the financial services provider’s stock.
Several other analysts have also commented on EWBC. Zacks Investment Research lowered shares of East West Bancorp from a buy rating to a hold rating in a research report on Tuesday, September 12th. Keefe, Bruyette & Woods restated a hold rating and set a $57.00 price target on shares of East West Bancorp in a research report on Tuesday, September 26th. Morgan Stanley restated an equal weight rating and set a $63.00 price target (up previously from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. BMO Capital Markets reiterated a hold rating and issued a $61.00 target price on shares of East West Bancorp in a research report on Thursday, October 5th. Finally, Raymond James Financial upgraded shares of East West Bancorp from an underperform rating to a market perform rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. East West Bancorp has a consensus rating of Hold and an average price target of $69.50.
East West Bancorp (EWBC) opened at $65.80 on Tuesday. The stock has a market cap of $9,668.47, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. East West Bancorp has a fifty-two week low of $48.07 and a fifty-two week high of $69.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million during the quarter, compared to analyst estimates of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. sell-side analysts expect that East West Bancorp will post 4.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, February 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 23.12%.
In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.50, for a total transaction of $137,000.00. Following the completion of the sale, the director now directly owns 21,599 shares in the company, valued at $1,479,531.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total transaction of $127,754.00. Following the sale, the director now owns 23,599 shares of the company’s stock, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders have sold 9,200 shares of company stock worth $571,054 over the last ninety days. 0.88% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in EWBC. BlackRock Inc. grew its holdings in shares of East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock valued at $780,841,000 after purchasing an additional 1,373,528 shares in the last quarter. State Street Corp grew its holdings in shares of East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after purchasing an additional 1,004,860 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after purchasing an additional 893,764 shares in the last quarter. Janus Henderson Group PLC grew its holdings in East West Bancorp by 66.8% during the 3rd quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock worth $58,784,000 after acquiring an additional 393,861 shares in the last quarter. Finally, Hahn Capital Management LLC acquired a new position in East West Bancorp during the 2nd quarter worth approximately $21,380,000. Hedge funds and other institutional investors own 91.38% of the company’s stock.
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East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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