East West Bancorp (NASDAQ:EWBC) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of East West Bancorp (NASDAQ:EWBC) from a hold rating to a sell rating in a report released on Tuesday, BidAskClub reports.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Co reduced their price target on shares of East West Bancorp from $60.00 to $57.00 and set an outperform rating on the stock in a research report on Friday, October 18th. Morgan Stanley increased their price target on shares of East West Bancorp from $58.00 to $60.00 and gave the company an overweight rating in a research report on Tuesday, January 28th. Wedbush reduced their price target on shares of East West Bancorp from $55.00 to $51.00 and set an outperform rating on the stock in a research report on Friday, October 18th. ValuEngine upgraded shares of East West Bancorp from a sell rating to a hold rating in a research report on Tuesday, December 3rd. Finally, UBS Group cut shares of East West Bancorp from a buy rating to a neutral rating and reduced their price target for the company from $58.00 to $50.00 in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $51.57.

NASDAQ EWBC traded down $0.65 on Tuesday, reaching $47.78. 36,114 shares of the company’s stock traded hands, compared to its average volume of 1,163,470. East West Bancorp has a 12 month low of $37.69 and a 12 month high of $56.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day simple moving average of $48.02 and a 200 day simple moving average of $45.03. The stock has a market cap of $7.03 billion, a PE ratio of 10.37, a P/E/G ratio of 1.00 and a beta of 1.70.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. East West Bancorp had a net margin of 32.22% and a return on equity of 14.73%. The business had revenue of $431.20 million for the quarter, compared to analysts’ expectations of $413.66 million. During the same period last year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that East West Bancorp will post 4.74 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. East West Bancorp’s dividend payout ratio is 22.73%.

In other news, Director Herman Y. Li sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.75, for a total value of $243,750.00. Following the transaction, the director now owns 39,261 shares in the company, valued at $1,913,973.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rudolph Estrada sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.61, for a total transaction of $125,023.86. Following the completion of the transaction, the director now owns 15,977 shares in the company, valued at approximately $760,664.97. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of East West Bancorp by 1.4% in the second quarter. BlackRock Inc. now owns 15,854,861 shares of the financial services provider’s stock worth $741,532,000 after purchasing an additional 223,815 shares during the last quarter. Boston Partners grew its holdings in shares of East West Bancorp by 3.6% in the third quarter. Boston Partners now owns 5,170,745 shares of the financial services provider’s stock worth $229,015,000 after purchasing an additional 179,203 shares during the last quarter. FMR LLC grew its holdings in shares of East West Bancorp by 139.2% in the fourth quarter. FMR LLC now owns 3,780,589 shares of the financial services provider’s stock worth $184,115,000 after purchasing an additional 2,200,318 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of East West Bancorp by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 2,388,321 shares of the financial services provider’s stock worth $116,311,000 after purchasing an additional 240,129 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of East West Bancorp by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,229,641 shares of the financial services provider’s stock worth $108,584,000 after purchasing an additional 105,748 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

East West Bancorp Company Profile

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 businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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