East West Bancorp (NASDAQ:EWBC) Stock Price Up 2.9%

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) traded up 2.9% during trading on Thursday . The stock traded as high as $72.36 and last traded at $72.36. 6,276 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 864,916 shares. The stock had previously closed at $70.34.

EWBC has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on East West Bancorp from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, April 29th. Compass Point lifted their price target on shares of East West Bancorp from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 18th. DA Davidson raised shares of East West Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.50 to $87.00 in a report on Tuesday, March 30th. Finally, Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Thursday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $75.71.

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $72.60. The company has a market cap of $10.21 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.22 and a beta of 1.87.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Wednesday, April 21st. The financial services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.18. The firm had revenue of $426.56 million during the quarter, compared to analysts’ expectations of $407.91 million. East West Bancorp had a net margin of 35.32% and a return on equity of 12.15%. East West Bancorp’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, research analysts expect that East West Bancorp, Inc. will post 5.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 17th. Stockholders of record on Monday, May 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, April 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.83%. East West Bancorp’s payout ratio is currently 33.25%.

In other news, Director Iris S. Chan sold 1,516 shares of the stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $77.90, for a total value of $118,096.40. Following the transaction, the director now owns 10,382 shares of the company’s stock, valued at approximately $808,757.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 515 shares of the firm’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $77.56, for a total value of $39,943.40. Following the completion of the transaction, the director now owns 9,867 shares in the company, valued at $765,284.52. The disclosure for this sale can be found here. Insiders have sold 2,977 shares of company stock worth $232,187 in the last ninety days. 0.78% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EWBC. Mascoma Wealth Management LLC acquired a new position in shares of East West Bancorp during the 1st quarter worth about $32,000. Tobam bought a new position in shares of East West Bancorp during the first quarter worth $35,000. Harvest Fund Management Co. Ltd acquired a new position in shares of East West Bancorp in the 1st quarter valued at $35,000. CWM LLC lifted its holdings in East West Bancorp by 5,020.0% during the first quarter. CWM LLC now owns 512 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 502 shares in the last quarter. Finally, Arlington Partners LLC bought a new stake in shares of East West Bancorp in the first quarter worth about $44,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.

East West Bancorp Company Profile (NASDAQ:EWBC)

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 through three segments: Consumer and Business Banking, Commercial Banking, and Other.

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