East West Bancorp (NASDAQ:EWBC) PT Raised to $110.00

East West Bancorp (NASDAQ:EWBC) had its price target raised by Wedbush from $100.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock. Wedbush also issued estimates for East West Bancorp’s Q4 2024 earnings at $2.09 EPS and FY2026 earnings at $8.85 EPS.

Several other brokerages have also recently issued reports on EWBC. Citigroup lifted their target price on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday. DA Davidson lifted their price objective on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Piper Sandler lifted their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Stephens boosted their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $95.10 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a twelve month low of $52.29 and a twelve month high of $98.95. The business has a 50-day moving average price of $83.94 and a 200-day moving average price of $78.63. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.41% and a net margin of 24.96%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same period in the prior year, the company posted $2.02 EPS. As a group, equities research analysts predict that East West Bancorp will post 8.21 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a yield of 2.31%. East West Bancorp’s payout ratio is 27.78%.

Insider Activity

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares of the company’s stock, valued at $1,382,509.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co bought a new position in East West Bancorp during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in East West Bancorp during the 2nd quarter worth about $30,000. UMB Bank n.a. boosted its stake in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 283 shares in the last quarter. American Capital Advisory LLC bought a new position in shares of East West Bancorp during the second quarter valued at approximately $31,000. Finally, Signaturefd LLC boosted its stake in shares of East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 446 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

About East West Bancorp

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.