East West Bancorp (NASDAQ:EWBC) Hits New 1-Year High – Still a Buy?

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $99.55 and last traded at $98.82, with a volume of 139002 shares trading hands. The stock had previously closed at $98.84.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. DA Davidson upped their price target on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Truist Financial raised their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.46.

East West Bancorp Trading Down 0.3 %

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $84.28 and a 200-day moving average price of $78.84. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.20 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.41% and a net margin of 24.96%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the prior year, the company earned $2.02 EPS. Research analysts predict that East West Bancorp, Inc. will post 8.21 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.

Insider Activity at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares of the company’s stock, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp in the second quarter valued at approximately $30,000. American Capital Advisory LLC acquired a new position in shares of East West Bancorp in the 2nd quarter worth approximately $31,000. Tobam grew its position in East West Bancorp by 131.7% during the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Finally, Signaturefd LLC grew its position in East West Bancorp by 490.1% during the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 446 shares during the last quarter. 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.