Zacks Investment Research cut shares of East West Bancorp Inc. (NASDAQ:EWBC) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc. “

EWBC has been the subject of a number of other reports. Macquarie upgraded East West Bancorp from a neutral rating to an outperform rating in a report on Friday, July 22nd. Deutsche Bank AG boosted their price objective on East West Bancorp from $40.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, October 11th. Barclays PLC boosted their price objective on East West Bancorp from $41.00 to $45.00 and gave the company an overweight rating in a research report on Tuesday, October 11th. Finally, BMO Capital Markets restated a buy rating and set a $41.00 price objective on shares of East West Bancorp in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $45.50.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Shares of East West Bancorp (NASDAQ:EWBC) traded up 1.808% during midday trading on Wednesday, hitting $46.465. 749,515 shares of the company were exchanged. The company’s 50 day moving average price is $39.80 and its 200 day moving average price is $36.78. The firm has a market cap of $6698.58 billion, a P/E ratio of 16.361 and a beta of 1.23. East West Bancorp has a one year low of $27.25 and a one year high of $47.18.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. East West Bancorp had a return on equity of 12.69% and a net margin of 32.13%. The company earned $303.40 million during the quarter, compared to analyst estimates of $258.29 million. During the same period in the previous year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that East West Bancorp will post $2.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, October 28th. East West Bancorp’s payout ratio is presently 28.17%.

In other news, Director Jack C. Liu sold 2,101 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $37.35, for a total transaction of $78,472.35. Following the sale, the director now owns 29,006 shares in the company, valued at $1,083,374.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rudolph Estrada sold 2,888 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $34.62, for a total value of $99,982.56. Following the sale, the director now owns 15,261 shares in the company, valued at approximately $528,335.82. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Synovus Financial Corp raised its position in shares of East West Bancorp by 0.3% in the second quarter. Synovus Financial Corp now owns 6,483 shares of the financial services provider’s stock valued at $224,000 after buying an additional 20 shares during the period. Citizens Financial Group Inc RI raised its position in shares of East West Bancorp by 2.1% in the second quarter. Citizens Financial Group Inc RI now owns 3,585 shares of the financial services provider’s stock valued at $123,000 after buying an additional 73 shares during the period. Washington Trust Bank raised its position in shares of East West Bancorp by 3.0% in the second quarter. Washington Trust Bank now owns 3,903 shares of the financial services provider’s stock valued at $133,000 after buying an additional 113 shares during the period. State Treasurer State of Michigan raised its position in shares of East West Bancorp by 0.3% in the third quarter. State Treasurer State of Michigan now owns 58,000 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 200 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of East West Bancorp by 0.8% in the third quarter. Canada Pension Plan Investment Board now owns 25,000 shares of the financial services provider’s stock valued at $918,000 after buying an additional 200 shares during the period. Institutional investors own 84.38% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc (East West) 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 operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.

5 Day Chart for NASDAQ:EWBC

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