East West Bancorp (NASDAQ:EWBC) Upgraded at StockNews.com

StockNews.com upgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a hold rating in a report released on Tuesday.

Other research analysts have also issued research reports about the company. Compass Point lifted their target price on East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Truist Financial lifted their target price on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.38.

East West Bancorp Price Performance

Shares of EWBC opened at $97.66 on Tuesday. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.36 and a beta of 1.30. The stock has a 50 day moving average of $99.56 and a 200-day moving average of $93.05. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp has a 52 week low of $68.78 and a 52 week high of $113.95.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, February 3rd. East West Bancorp’s payout ratio is presently 28.81%.

Insider Buying and Selling

In other news, Director Jack C. Liu sold 725 shares of East West Bancorp stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total transaction of $75,762.50. Following the transaction, the director now owns 15,832 shares in the company, valued at approximately $1,654,444. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its position in East West Bancorp by 3.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 336 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of East West Bancorp by 108.5% in the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider’s stock worth $5,282,000 after buying an additional 28,549 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of East West Bancorp in the third quarter worth about $4,157,000. Quest Partners LLC lifted its position in shares of East West Bancorp by 830,133.3% in the third quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider’s stock worth $2,061,000 after buying an additional 24,904 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of East West Bancorp by 159.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock worth $2,448,000 after buying an additional 18,166 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.