Somewhat Favorable Media Coverage Somewhat Unlikely to Affect East West Bancorp (EWBC) Stock Price
Headlines about East West Bancorp (NASDAQ:EWBC) have been trending somewhat positive this week, according to Accern Sentiment. The research group identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. East West Bancorp earned a news impact score of 0.16 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 46.697092936609 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the headlines that may have effected Accern’s rankings:
- East West Bancorp, Inc. (EWBC) Rating Lowered to Hold at Zacks Investment Research (americanbankingnews.com)
- East West Bancorp, Inc. (NASDAQ:EWBC) Downgraded by BidaskClub to Strong Sell (iphonefresh.com)
- East West Bancorp, Inc. (EWBC) Downgraded by BidaskClub to Sell (currenthollywood.com)
- Top 5 GARP Stocks to Scoop Up Right Now (finance.yahoo.com)
East West Bancorp (NASDAQ EWBC) traded down 0.51% during mid-day trading on Wednesday, hitting $56.31. The stock had a trading volume of 354,415 shares. The stock’s 50-day moving average is $57.69 and its 200 day moving average is $55.05. East West Bancorp has a 52 week low of $34.08 and a 52 week high of $60.42. The company has a market capitalization of $8.14 billion, a P/E ratio of 16.08 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The company had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities 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. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, July 28th. East West Bancorp’s dividend payout ratio (DPR) is currently 22.92%.
Several analysts have recently issued reports on the company. Deutsche Bank AG downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Friday, July 14th. Barclays PLC reiterated an “overweight” rating and set a $63.00 price target (up previously from $61.00) on shares of East West Bancorp in a research note on Sunday, April 23rd. BidaskClub downgraded East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research note on Friday, June 23rd. Finally, Zacks Investment Research downgraded East West Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.88.
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In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the transaction, the director now directly owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.
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.
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