East West Bancorp, Inc. (EWBC) Downgraded by BidaskClub
BidaskClub cut shares of East West Bancorp, Inc. (NASDAQ:EWBC) from a hold rating to a sell rating in a research note published on Tuesday morning.
Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $57.00 price objective on shares of East West Bancorp in a research report on Monday, May 22nd. Piper Jaffray Companies set a $68.00 price objective on shares of East West Bancorp and gave the company a buy rating in a research report on Saturday, June 17th. Wedbush reaffirmed an outperform rating and set a $68.00 price objective on shares of East West Bancorp in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of East West Bancorp from a hold rating to a buy rating and set a $57.00 price objective for the company in a research report on Thursday, April 20th. Finally, Morgan Stanley boosted their price objective on shares of East West Bancorp from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. East West Bancorp presently has a consensus rating of Hold and a consensus target price of $62.63.
Shares of East West Bancorp (EWBC) traded down 0.42% during trading on Tuesday, hitting $56.62. The company’s stock had a trading volume of 439,080 shares. East West Bancorp has a 52 week low of $33.02 and a 52 week high of $60.42. The company has a market cap of $8.18 billion, a PE ratio of 16.17 and a beta of 1.42. The firm’s 50 day moving average price is $58.10 and its 200-day moving average price is $54.48.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The business had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same quarter in the prior year, the business posted $0.71 EPS. On average, analysts predict that East West Bancorp will post $3.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, July 28th. East West Bancorp’s dividend payout ratio (DPR) is 22.92%.
In other East West Bancorp news, Director Molly Campbell sold 590 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $55.93, for a total value of $32,998.70. Following the completion of the transaction, the director now owns 3,903 shares in the company, valued at approximately $218,294.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jack C. Liu sold 1,123 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the transaction, the director now owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of EWBC. Strs Ohio purchased a new position in East West Bancorp during the second quarter valued at approximately $110,000. Washington Trust Bank boosted its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares during the period. CENTRAL TRUST Co purchased a new position in East West Bancorp during the first quarter valued at approximately $177,000. Eagle Global Advisors LLC purchased a new position in East West Bancorp during the second quarter valued at approximately $222,000. Finally, Daiwa Securities Group Inc. purchased a new position in East West Bancorp during the second quarter valued at approximately $249,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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