East West Bancorp (NASDAQ:EWBC) PT Raised to $92.00 at Piper Sandler

East West Bancorp (NASDAQ:EWBC) had its target price boosted by Piper Sandler from $72.50 to $92.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

EWBC has been the topic of a number of other research reports. Barclays lowered their target price on East West Bancorp from $106.00 to $105.00 and set an overweight rating on the stock in a research note on Monday, June 24th. Wedbush restated an outperform rating and issued a $90.00 target price on shares of East West Bancorp in a research note on Wednesday, April 24th. StockNews.com upgraded East West Bancorp from a sell rating to a hold rating in a research note on Wednesday, July 17th. Stephens boosted their target price on East West Bancorp from $85.00 to $86.00 and gave the company an overweight rating in a research note on Wednesday, April 24th. Finally, Truist Financial lowered their target price on East West Bancorp from $86.00 to $80.00 and set a buy rating on the stock in a research note on Monday, July 8th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $88.60.

East West Bancorp Stock Up 1.1 %

NASDAQ:EWBC opened at $87.97 on Wednesday. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 2.98 and a beta of 1.32. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $88.51. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $74.52 and its 200 day moving average price is $74.33.

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

East West Bancorp Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On East West Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in East West Bancorp during the 1st quarter valued at $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of East West Bancorp in the 1st quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the 4th quarter valued at $29,000. Rise Advisors LLC acquired a new stake in shares of East West Bancorp during the first quarter worth $30,000. Finally, Mather Group LLC. acquired a new stake in shares of East West Bancorp during the first quarter worth $35,000. 89.53% of the stock is owned by institutional investors and hedge funds.

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.