East West Bancorp (NASDAQ:EWBC) Price Target Raised to $150.00

East West Bancorp (NASDAQ:EWBC) had its price objective raised by Cantor Fitzgerald from $137.00 to $150.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler lifted their price target on East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. DA Davidson upped their price objective on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of East West Bancorp in a research report on Friday, July 10th. TD Cowen lifted their target price on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Barclays boosted their target price on East West Bancorp from $142.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.31.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $134.52 on Wednesday. The stock has a market cap of $18.43 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $127.00 and a two-hundred day moving average price of $118.89. East West Bancorp has a one year low of $92.67 and a one year high of $136.24.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.11. The company had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. As a group, equities analysts predict that East West Bancorp will post 10.56 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were paid a $0.80 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. East West Bancorp’s dividend payout ratio is 31.97%.

Insider Activity at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the sale, the insider owned 46,974 shares in the company, valued at $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares in the company, valued at $87,422,275.70. The trade was a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,311 shares of company stock worth $6,784,711 in the last quarter. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of East West Bancorp

Several institutional investors have recently added to or reduced their stakes in EWBC. Atlantic Union Bankshares Corp bought a new position in East West Bancorp during the 4th quarter worth $31,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp in the third quarter valued at about $31,000. Signaturefd LLC grew its stake in shares of East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 184 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 113 shares in the last quarter. Finally, Quarry LP grew its stake in shares of East West Bancorp by 35.4% in the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 102 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.