East West Bancorp (NASDAQ:EWBC) Price Target Raised to $105.00 at Wells Fargo & Company

East West Bancorp (NASDAQ:EWBC) had its price target boosted by Wells Fargo & Company from $97.00 to $105.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also weighed in on EWBC. Barclays upped their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wedbush upped their price target on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Piper Sandler raised their price objective on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley lifted their price objective on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Stock Down 2.2 %

EWBC opened at $95.10 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp has a 12 month low of $52.29 and a 12 month high of $98.95. The stock has a market capitalization of $13.18 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.20 and a beta of 1.29. The business has a 50 day simple moving average of $83.94 and a 200-day simple moving average of $78.63.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same quarter last year, the company earned $2.02 earnings per share. On average, equities analysts anticipate that East West Bancorp will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.31%. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

Insiders Place Their Bets

In other news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On East West Bancorp

Several hedge funds have recently modified their holdings of the stock. Riverview Trust Co purchased a new position in East West Bancorp during the first quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of East West Bancorp during the 2nd quarter worth $30,000. UMB Bank n.a. raised its position in shares of East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after buying an additional 283 shares during the period. American Capital Advisory LLC acquired a new position in East West Bancorp in the second quarter valued at $31,000. Finally, Signaturefd LLC grew its position in East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 446 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

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.