East West Bancorp, Inc. (NASDAQ:EWBC) Receives $57.33 Consensus Target Price from Analysts
East West Bancorp, Inc. (NASDAQ:EWBC) has earned an average recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $57.33.
Several research analysts recently weighed in on the stock. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday. ValuEngine downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Friday, June 28th. BMO Capital Markets downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $44.00 in a report on Monday, August 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price (down previously from $57.00) on shares of East West Bancorp in a report on Monday, June 3rd.
Shares of EWBC stock traded down $0.36 during mid-day trading on Friday, reaching $45.79. 1,260,559 shares of the company’s stock traded hands, compared to its average volume of 942,660. East West Bancorp has a 12 month low of $37.69 and a 12 month high of $64.04. The firm has a 50 day moving average price of $42.38 and a two-hundred day moving average price of $47.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $6.70 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.68.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, July 31st. East West Bancorp’s dividend payout ratio is currently 23.61%.
In related news, CEO Dominic Ng acquired 25,840 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $38.71 per share, with a total value of $1,000,266.40. Following the acquisition, the chief executive officer now directly owns 538,250 shares of the company’s stock, valued at $20,835,657.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rudolph Estrada acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $38.51 per share, with a total value of $38,510.00. Following the acquisition, the director now directly owns 18,603 shares in the company, valued at $716,401.53. The disclosure for this purchase can be found here. Insiders purchased a total of 38,052 shares of company stock valued at $1,478,330 in the last ninety days. 0.61% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berman Capital Advisors LLC raised its position in East West Bancorp by 170.4% in the 1st quarter. Berman Capital Advisors LLC now owns 622 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 392 shares during the period. Advantage Investment Management LLC boosted its stake in East West Bancorp by 64.1% in the second quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 280 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in East West Bancorp in the first quarter valued at approximately $37,000. QCI Asset Management Inc. NY acquired a new stake in East West Bancorp in the second quarter valued at approximately $37,000. Finally, FTB Advisors Inc. acquired a new stake in East West Bancorp in the second quarter valued at approximately $44,000. 89.48% 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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
Recommended Story: How is a price target determined?
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.