MarketBeat Ratings reports that shares in East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) have received a “hold” consensus recommendation from the nine brokerage firms that currently cover the company. One investment analyst rated the company’s stock with a sell recommendation, three issued hold recommendations, and three issued buy recommendations. The average 12-month price target of brokers who updated their coverage of the stock last year was $71.13.
A number of analysts recently released reports on EWBC stock. Keefe, Bruyette & Woods cut its price target on East-West Bancorp shares to $81.00 from $90.00 in its report on Thursday, April 6, setting the stock’s rating to “outperform.” Trust Financial cut its price target on East-West Bancorp from $85.00 to $64.00 in its research report on Thursday, March 23, setting the company’s valuation at Buy. UBS Group undertook coverage of East-West Bancorp in a research note on Wednesday, March 15. The stock is rated Neutral with a price target of $63.00. Wells Fargo & Company lowered its price target on East-West Bancorp from $85.00 to $80.00 in a report on Friday, April 21, setting the stock’s rating to Overweight. Finally, StockNews.com downgraded East-West Bancorp’s rating from ‘hold’ to ‘sell’ in a report on Friday.
East West Bancorp deals up 0.7%
East-West Bancorp shares opened Monday at $50.29. Its 50-day moving average price is $51.24 and its 200-day moving average price is $63.27. East-West Bancorp hit a 52-week low of $33.86 and a 52-week high of $80.98. The stock has a market cap of $7.11 billion, a P/E of 5.90, a PEG ratio of 0.57 and a beta of 1.39. The company has a debt to equity ratio of 0.02, a quick ratio of 0.90 and a current ratio of 0.90.
East West Bancorp (NASDAQ:EWBC – Get Rating) last reported quarterly results on Thursday, April 20. The financial services provider reported earnings per share of $2.32 for the quarter, beating consensus expectations of $2.20 by $0.12. The company posted revenue of $659.84 million for the quarter, compared with analyst expectations of $673.68 million. East West Bancorp’s return on equity was 20.71% and net profit margin was 40.38%. The company’s revenue increased by 33.2% year-on-year. The company posted earnings per share of $1.66 in the year-ago quarter. Equity research analysts expect East-West Bancorp to post earnings of $8.89 per share this fiscal year.
East West Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid out on Monday, May 15. The shareholder of record on Monday, May 1 was paid a dividend of $0.48 per share for him. This equates to a dividend of $1.92 for him on an annualized basis and a dividend yield of 3.82% for him. The ex-dividend date was Friday, April 28. East West Bancorp’s dividend payout ratio is 22.51%.
Insider Trading at East West Bancorp
In related news, CFO Eileen H. Oh bought 10,000 shares of the company in a transaction on Monday, March 13. The shares were purchased at an average price of $49.51 per share for a total value of $495,100.00. Following the closing of the acquisition, the Chief Financial Officer will own 124,925 shares of the company, valued at approximately $6,185,036.75. The acquisition is disclosed in his SEC filings, which can be accessed via this hyperlink. In related news, EVP Gary Teo said he purchased 3,450 shares of East West Bancorp stock in a transaction on Thursday, May 4. The shares were acquired at an average of $43.00 per share for him, giving him a total trading value of $148,350.00. Upon completion of the acquisition, the Executive Vice President will own 14,583 shares of the Company’s stock, valued at approximately $627,069. The acquisition is disclosed in his SEC filings, available at this hyperlink. CFO Eileen H. Oh also bought 10,000 shares of the company in a deal that took place on Monday, March 13. The shares were purchased at an average price of $49.51 per share for a total of $495,100.00. Following the closing of the transaction, the Chief Financial Officer will own directly 124,925 shares of the company, valued at $6,185,036.75. Disclosure information regarding this acquisition can be found here. In the past 90 days, insiders have acquired 33,030 shares of the company’s stock worth $1,471,642. Currently, 0.91% of the shares are owned by insiders.
institution inflow and outflow
A number of hedge funds and other institutional investors have recently increased or decreased their stakes in EWBC. Ronald Blue Trust Inc. increased his stake in East West Bancorp stock by 7.7% during the fourth quarter. Ronald Blue Trust Inc. purchased an additional 153 shares in him last quarter and now owns 2,153 shares of the financial services provider worth $145,000. Captrust Financial Advisors increased his holding of East West Bancorp shares by 6.2% in the first quarter. Captrust Financial Advisors now owns 2,776 shares of the financial services provider, valued at $219,000, after acquiring an additional 162 shares last quarter. IFP Advisors Inc increased its stake in East West Bancorp by 23.9% in the third quarter. IFP Advisors Inc purchased an additional 172 shares during the last quarter and now owns 892 shares of the financial services provider, valued at $63,000. Commerce Bank increased its stake in East-West Bancorp by 2.2% in the fourth quarter. Commerce Bank, which purchased an additional 173 shares last quarter, now holds 8,135 shares in the financial services provider, valued at $536,000. Finally, Citizens Financial Group Inc. RI increased its position in East West Bancorp stock by 3.2% during the third quarter. Citizens Financial Group Inc RI purchased an additional 179 shares last quarter and now owns 5,799 shares of the financial services provider, valued at $389,000. Currently, 88.68% of the shares are owned by hedge funds and other institutional investors.
About East-West Bancorp
East West Bancorp, Inc. is a bank holding company that provides financial services. The Company operates through its Consumer and Business Banking, Commercial Banking and Other business segments. Consumer and Business Banking provides financial services products and services to consumer and commercial customers through a network of branches in the United States.
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