Somewhat Favorable News Coverage Somewhat Unlikely to Impact East West Bancorp (EWBC) Stock Price
Headlines about East West Bancorp (NASDAQ:EWBC) have been trending somewhat positive recently, Accern Sentiment reports. The research group scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. East West Bancorp earned a daily sentiment score of 0.24 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 46.3926287698436 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
East West Bancorp (NASDAQ:EWBC) traded down $0.23 during trading on Wednesday, hitting $58.01. 477,968 shares of the stock were exchanged, compared to its average volume of 929,749. The stock has a market cap of $8,380.00, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.47. East West Bancorp has a twelve month low of $46.31 and a twelve month high of $61.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. equities research analysts forecast that East West Bancorp will post 3.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is 21.92%.
EWBC has been the topic of a number of analyst reports. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Barclays PLC set a $66.00 target price on shares of East West Bancorp and gave the stock a “buy” rating in a research note on Friday, October 20th. BMO Capital Markets lifted their target price on shares of East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. DA Davidson reaffirmed a “hold” rating and set a $63.00 target price on shares of East West Bancorp in a research note on Friday, October 20th. Finally, BidaskClub downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $64.60.
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In related news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the director now owns 40,130 shares in the company, valued at $2,447,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares of the company’s stock, valued at approximately $866,135.75. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
About East West Bancorp
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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