East West Bancorp (NASDAQ:EWBC) PT Lowered to $105.00 at Barclays

East West Bancorp (NASDAQ:EWBC) had its price objective cut by Barclays from $106.00 to $105.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

EWBC has been the topic of several other reports. Stephens upped their target price on shares of East West Bancorp from $85.00 to $86.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Truist Financial cut their target price on shares of East West Bancorp from $90.00 to $86.00 and set a buy rating on the stock in a research note on Thursday, April 25th. Wedbush reiterated an outperform rating and set a $90.00 price target on shares of East West Bancorp in a report on Wednesday, April 24th. Jefferies Financial Group boosted their price target on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, Citigroup boosted their price target on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $84.00.

East West Bancorp Price Performance

East West Bancorp stock opened at $71.90 on Monday. The company’s 50 day simple moving average is $74.08 and its 200-day simple moving average is $73.45. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 3.65 and a beta of 1.33. East West Bancorp has a 1 year low of $49.59 and a 1 year high of $79.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The business had revenue of $644.13 million for the quarter, compared to the consensus estimate of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.32 EPS. As a group, equities research analysts expect that East West Bancorp will post 8.03 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a $0.55 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $2.20 annualized dividend and a yield of 3.06%. East West Bancorp’s dividend payout ratio (DPR) is 27.71%.

Insider Activity at East West Bancorp

In related news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the sale, the insider now owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares in the company, valued at approximately $9,867,632.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On East West Bancorp

A number of large investors have recently bought and sold shares of EWBC. Capital Research Global Investors purchased a new position in shares of East West Bancorp in the 1st quarter valued at about $338,142,000. Norges Bank purchased a new stake in shares of East West Bancorp during the fourth quarter valued at approximately $115,369,000. Westfield Capital Management Co. LP acquired a new stake in East West Bancorp in the fourth quarter valued at $67,692,000. Boston Partners raised its holdings in East West Bancorp by 48.5% in the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after acquiring an additional 886,841 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in East West Bancorp by 112.5% during the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock valued at $114,013,000 after purchasing an additional 762,958 shares during the last quarter. Hedge funds and other institutional investors own 89.53% 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.