Analysts Set East West Bancorp, Inc. (EWBC) Target Price at $70.27
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have received a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $70.27.
A number of equities analysts recently weighed in on EWBC shares. BMO Capital Markets lifted their price target on East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, January 8th. BidaskClub cut East West Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Sandler O’Neill reissued a “buy” rating and issued a $76.00 price target on shares of East West Bancorp in a research note on Friday, January 26th. Finally, ValuEngine raised East West Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd.
East West Bancorp (EWBC) opened at $64.45 on Friday. The stock has a market capitalization of $9,276.76, a PE ratio of 18.60, a P/E/G ratio of 1.39 and a beta of 1.45. East West Bancorp has a fifty-two week low of $48.07 and a fifty-two week high of $69.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. East West Bancorp’s payout ratio is presently 23.12%.
In other news, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now directly owns 18,015 shares in the company, valued at approximately $1,103,598.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the sale, the director now owns 21,599 shares of the company’s stock, valued at $1,479,531.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,200 shares of company stock valued at $704,434 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in EWBC. Toronto Dominion Bank acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $104,000. National Pension Service acquired a new stake in shares of East West Bancorp during the 4th quarter valued at about $116,000. Contravisory Investment Management Inc. acquired a new stake in shares of East West Bancorp during the 4th quarter valued at about $129,000. Field & Main Bank acquired a new stake in shares of East West Bancorp during the 4th quarter valued at about $146,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at about $149,000. Institutional investors and hedge funds own 90.90% of the company’s stock.
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East West Bancorp Company Profile
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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