BidaskClub upgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a hold rating in a research report report published on Tuesday.
EWBC has been the topic of a number of other research reports. ValuEngine cut East West Bancorp from a buy rating to a hold rating in a research note on Wednesday, April 18th. UBS assumed coverage on East West Bancorp in a research note on Thursday, March 22nd. They issued a buy rating and a $77.00 price target on the stock. Sandler O’Neill reissued a buy rating and issued a $69.00 price target on shares of East West Bancorp in a research note on Thursday, January 4th. Barclays lifted their price target on East West Bancorp from $70.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Finally, Morgan Stanley lifted their price target on East West Bancorp from $69.00 to $70.00 and gave the stock an equal weight rating in a research note on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. East West Bancorp presently has a consensus rating of Buy and an average target price of $71.08.
NASDAQ:EWBC opened at $66.61 on Tuesday. The stock has a market cap of $9,623.88, a P/E ratio of 17.95, a PEG ratio of 1.42 and a beta of 1.42. East West Bancorp has a 52-week low of $52.86 and a 52-week high of $69.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. The firm had revenue of $401.14 million for the quarter, compared to analyst estimates of $364.81 million. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. During the same period in the previous year, the company earned $0.88 earnings per share. sell-side analysts anticipate that East West Bancorp will post 4.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be given a dividend of $0.20 per share. The ex-dividend date is Monday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. East West Bancorp’s payout ratio is presently 23.12%.
In other East West Bancorp news, Director Molly Campbell sold 461 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $65.11, for a total transaction of $30,015.71. Following the completion of the sale, the director now directly owns 5,448 shares in the company, valued at approximately $354,719.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.50, for a total value of $137,000.00. Following the sale, the director now owns 21,599 shares of the company’s stock, valued at $1,479,531.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,536 shares of company stock valued at $712,774 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in EWBC. Cubist Systematic Strategies LLC acquired a new stake in East West Bancorp during the 3rd quarter worth about $334,000. GSA Capital Partners LLP acquired a new stake in East West Bancorp during the 3rd quarter worth about $640,000. Parametric Portfolio Associates LLC boosted its position in East West Bancorp by 8.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 214,531 shares of the financial services provider’s stock worth $12,825,000 after acquiring an additional 15,826 shares during the period. Prudential Financial Inc. boosted its position in East West Bancorp by 10.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,101,420 shares of the financial services provider’s stock worth $65,843,000 after acquiring an additional 104,558 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in East West Bancorp during the 4th quarter worth about $217,000. Hedge funds and other institutional investors own 91.63% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/04/25/east-west-bancorp-ewbc-upgraded-at-bidaskclub.html.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.