Zacks Investment Research downgraded shares of East West Bancorp, Inc. (NASDAQ:EWBC) from a buy rating to a hold rating in a research note released on Tuesday.

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. “

Other research analysts have also recently issued reports about the company. Piper Jaffray Companies set a $68.00 target price on East West Bancorp and gave the stock a buy rating in a research note on Saturday, June 17th. Keefe, Bruyette & Woods reissued a hold rating and set a $57.00 target price on shares of East West Bancorp in a research note on Monday, May 22nd. Wedbush reissued an outperform rating and set a $68.00 target price on shares of East West Bancorp in a research note on Tuesday, June 27th. Morgan Stanley boosted their target price on East West Bancorp from $57.00 to $59.00 and gave the stock an equal weight rating in a research note on Tuesday, June 6th. Finally, BidaskClub cut East West Bancorp from a buy rating to a hold rating in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. East West Bancorp presently has an average rating of Hold and an average target price of $62.63.

Shares of East West Bancorp (EWBC) opened at 56.60 on Tuesday. The stock has a market capitalization of $8.18 billion, a PE ratio of 16.17 and a beta of 1.43. The firm has a 50-day moving average price of $56.01 and a 200-day moving average price of $55.31. East West Bancorp has a 1-year low of $35.33 and a 1-year high of $60.42.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The firm had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. During the same period in the previous year, the firm posted $0.71 EPS. On average, equities research analysts forecast that East West Bancorp will post $3.74 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.20 per share. The ex-dividend date was Friday, July 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. East West Bancorp’s dividend payout ratio is currently 22.92%.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of East West Bancorp by 11.5% during the 2nd quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of East West Bancorp by 7.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares in the last quarter. State Street Corp boosted its position in shares of East West Bancorp by 16.5% during the 2nd quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after acquiring an additional 1,004,860 shares in the last quarter. Boston Partners boosted its position in shares of East West Bancorp by 14.4% during the 2nd quarter. Boston Partners now owns 6,568,832 shares of the financial services provider’s stock worth $384,802,000 after acquiring an additional 828,887 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of East West Bancorp by 5.5% during the 2nd quarter. Macquarie Group Ltd. now owns 4,262,200 shares of the financial services provider’s stock worth $249,680,000 after acquiring an additional 223,419 shares in the last quarter. 91.34% of the stock is owned by institutional investors and hedge funds.

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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