East West Bancorp, Inc. (EWBC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have been given a consensus rating of “Buy” by the sixteen analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $70.27.

A number of equities research analysts have recently commented on EWBC shares. SunTrust Banks restated a “buy” rating and set a $65.00 target price on shares of East West Bancorp in a research report on Thursday, October 12th. DA Davidson restated a “hold” rating and set a $63.00 target price on shares of East West Bancorp in a research report on Friday, October 20th. Wedbush restated an “outperform” rating and set a $66.00 target price (down from $68.00) on shares of East West Bancorp in a research report on Friday, October 20th. Barclays set a $66.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BMO Capital Markets raised their target price on East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, October 20th.

In related news, Director Jack C. Liu sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the transaction, the director now directly owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the transaction, the insider now directly owns 18,015 shares in the company, valued at $1,103,598.90. The disclosure for this sale can be found here. Insiders sold a total of 11,200 shares of company stock worth $704,434 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of EWBC. Toronto Dominion Bank purchased a new position in East West Bancorp in the 2nd quarter valued at about $104,000. National Pension Service purchased a new position in East West Bancorp in the 4th quarter valued at about $116,000. Contravisory Investment Management Inc. purchased a new position in East West Bancorp in the 4th quarter valued at about $129,000. Field & Main Bank purchased a new position in East West Bancorp in the 4th quarter valued at about $146,000. Finally, Americafirst Capital Management LLC purchased a new position in East West Bancorp in the 2nd quarter valued at about $149,000. 91.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of East West Bancorp (NASDAQ:EWBC) traded up $1.66 on Friday, reaching $64.18. The company’s stock had a trading volume of 759,908 shares, compared to its average volume of 888,007. The firm has a market cap of $9,424.20, a P/E ratio of 18.55, a P/E/G ratio of 1.41 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. East West Bancorp has a 12 month low of $48.07 and a 12 month high of $69.25.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business had revenue of $365.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same quarter last year, the business earned $0.76 earnings per share. East West Bancorp’s revenue was up 13.5% on a year-over-year basis. analysts predict that East West Bancorp will post 4.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, February 2nd. East West Bancorp’s dividend payout ratio is presently 23.12%.

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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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