Analysts Set East West Bancorp, Inc. (EWBC) PT at $62.88

East West Bancorp, Inc. (NASDAQ:EWBC) has received an average rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $62.88.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Thursday. BidaskClub cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Wedbush reissued an “outperform” rating and set a $68.00 target price on shares of East West Bancorp in a research report on Thursday, July 20th. Deutsche Bank AG cut shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research report on Friday, July 14th. Finally, BMO Capital Markets cut shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a research report on Friday, July 7th.

In related news, Director Jack C. Liu sold 1,123 shares of East West Bancorp stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total value of $66,257.00. Following the completion of the sale, the director now owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of EWBC. BlackRock Inc. raised its stake in shares of East West Bancorp by 11,449.0% in the first quarter. BlackRock Inc. now owns 11,955,936 shares of the financial services provider’s stock worth $617,046,000 after buying an additional 11,852,412 shares during the period. Principal Financial Group Inc. raised its stake in East West Bancorp by 128.7% in the second quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock valued at $172,888,000 after buying an additional 1,660,844 shares during the last quarter. William Blair Investment Management LLC raised its stake in East West Bancorp by 75.9% in the second quarter. William Blair Investment Management LLC now owns 2,646,584 shares of the financial services provider’s stock valued at $155,037,000 after buying an additional 1,142,250 shares during the last quarter. Victory Capital Management Inc. raised its stake in East West Bancorp by 6,167.5% in the first quarter. Victory Capital Management Inc. now owns 1,109,782 shares of the financial services provider’s stock valued at $57,276,000 after buying an additional 1,092,075 shares during the last quarter. Finally, State Street Corp raised its stake in East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after buying an additional 1,004,860 shares during the last quarter. Institutional investors and hedge funds own 92.16% of the company’s stock.

East West Bancorp (EWBC) traded down 1.05% during mid-day trading on Friday, hitting $53.95. 64,123 shares of the stock were exchanged. The company has a market cap of $7.79 billion, a P/E ratio of 15.41 and a beta of 1.41. The company has a 50-day moving average price of $57.48 and a 200-day moving average price of $55.07. East West Bancorp has a one year low of $34.08 and a one year high of $60.42.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting 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 analysts’ expectations of $329.32 million. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts forecast that East West Bancorp will post $3.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were paid a $0.20 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. East West Bancorp’s dividend payout ratio (DPR) is presently 22.92%.

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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.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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