East West Bancorp (NASDAQ:EWBC) reached a new 52-week high and low during trading on Monday . The company traded as low as $70.79 and last traded at $70.21, with a volume of 48136 shares trading hands. The stock had previously closed at $69.97.
A number of equities research analysts have commented on EWBC shares. UBS started coverage on East West Bancorp in a research report on Thursday, March 22nd. They issued a “buy” rating and a $77.00 price target on the stock. Deutsche Bank upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. Sandler O’Neill reiterated a “buy” rating and issued a $76.00 price target on shares of East West Bancorp in a research report on Friday, January 26th. ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley upped their price target on East West Bancorp from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.23.
The company has a market cap of $10.18 billion, a PE ratio of 20.37, a PEG ratio of 1.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.13. The company had revenue of $401.14 million for the quarter, compared to the consensus estimate 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 business earned $0.88 EPS. equities research analysts anticipate that East West Bancorp will post 4.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, April 30th. East West Bancorp’s dividend payout ratio is 23.12%.
In related news, CEO Dominic Ng sold 5,771 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $67.23, for a total transaction of $387,984.33. Following the transaction, the chief executive officer now directly owns 539,871 shares of the company’s stock, valued at approximately $36,295,527.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Molly Campbell sold 461 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $65.11, for a total value of $30,015.71. Following the transaction, the director now directly owns 5,448 shares in the company, valued at $354,719.28. The disclosure for this sale can be found here. Insiders sold a total of 47,483 shares of company stock worth $3,239,917 over the last three months. 0.68% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. National Pension Service acquired a new position in East West Bancorp during the 4th quarter worth approximately $116,000. Contravisory Investment Management Inc. acquired a new position in East West Bancorp during the 4th quarter worth approximately $129,000. Field & Main Bank acquired a new position in East West Bancorp during the 4th quarter worth approximately $146,000. Advisor Partners LLC acquired a new position in East West Bancorp during the 4th quarter worth approximately $213,000. Finally, YHB Investment Advisors Inc. acquired a new position in East West Bancorp during the 4th quarter worth approximately $217,000. 91.23% of the stock is currently owned by institutional investors and hedge funds.
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.
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