East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 4,640,000 shares, a growth of 7.7% from the August 15th total of 4,310,000 shares. Based on an average trading volume of 721,100 shares, the days-to-cover ratio is presently 6.4 days. Currently, 3.4% of the company’s stock are sold short.
Analyst Upgrades and Downgrades
EWBC has been the topic of a number of analyst reports. Stephens increased their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Piper Sandler increased their price target on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on shares of East West Bancorp from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays decreased their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, DA Davidson lifted their target price on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.53.
View Our Latest Stock Report on East West Bancorp
Insider Transactions at East West Bancorp
Hedge Funds Weigh In On East West Bancorp
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in East West Bancorp in the first quarter worth about $25,000. YHB Investment Advisors Inc. bought a new position in shares of East West Bancorp during the first quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the 4th quarter valued at $29,000. Rise Advisors LLC bought a new stake in shares of East West Bancorp in the 1st quarter worth about $30,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of East West Bancorp during the 2nd quarter worth about $30,000. 89.53% of the stock is owned by institutional investors.
East West Bancorp Stock Performance
EWBC traded up $0.28 on Wednesday, hitting $81.56. 331,862 shares of the stock traded hands, compared to its average volume of 946,246. The business has a fifty day moving average price of $80.91 and a two-hundred day moving average price of $76.74. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $11.35 billion, a PE ratio of 10.24, a P/E/G ratio of 2.65 and a beta of 1.29. East West Bancorp has a 52 week low of $49.59 and a 52 week high of $89.75.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. East West Bancorp’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, research analysts predict that East West Bancorp will post 8.2 EPS for the current fiscal year.
East West Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, August 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.
East West Bancorp Company Profile
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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