East West Bancorp (NASDAQ:EWBC) Price Target Raised to $100.00 at DA Davidson

East West Bancorp (NASDAQ:EWBC) had its price target hoisted by DA Davidson from $92.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for East West Bancorp’s Q3 2024 earnings at $2.09 EPS.

Several other equities research analysts also recently issued reports on EWBC. Barclays cut their price target on East West Bancorp from $106.00 to $105.00 and set an overweight rating for the company in a report on Monday, June 24th. Jefferies Financial Group cut their price target on East West Bancorp from $94.00 to $85.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their target price on East West Bancorp from $82.00 to $85.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Piper Sandler upped their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the company a neutral rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of East West Bancorp from a sell rating to a hold rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $88.60.

East West Bancorp Trading Up 1.1 %

NASDAQ EWBC opened at $87.97 on Wednesday. The stock has a 50 day moving average of $74.52 and a 200-day moving average of $74.33. East West Bancorp has a 12 month low of $49.59 and a 12 month high of $88.51. The company has a market cap of $12.24 billion, a PE ratio of 11.08, a PEG ratio of 2.98 and a beta of 1.32. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. During the same quarter last year, the firm posted $2.20 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts anticipate that East West Bancorp will post 8.12 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Insider Transactions at East West Bancorp

In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the sale, the insider now directly owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the transaction, the insider now owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EWBC. Riverview Trust Co bought a new position in shares of East West Bancorp in the 1st quarter valued at $25,000. YHB Investment Advisors Inc. bought a new position in shares of East West Bancorp in the 1st quarter valued at $27,000. Kapitalo Investimentos Ltda bought a new position in shares of East West Bancorp in the 4th quarter valued at $29,000. Rise Advisors LLC bought a new position in shares of East West Bancorp in the 1st quarter valued at $30,000. Finally, Mather Group LLC. bought a new position in shares of East West Bancorp in the 1st quarter valued at $35,000. 89.53% of the stock is currently owned by institutional investors.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.