East West Bancorp (EWBC) Upgraded at BidaskClub

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.

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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.

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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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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