UBS Group Initiates Coverage on East West Bancorp (NASDAQ:EWBC)

UBS Group began coverage on shares of East West Bancorp (NASDAQ:EWBC) in a research report report published on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $112.00 price target on the financial services provider’s stock.

Several other research analysts also recently weighed in on the company. Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their price target on East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their price objective on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush boosted their target price on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $109.38.

East West Bancorp Stock Performance

EWBC stock opened at $100.18 on Tuesday. East West Bancorp has a one year low of $67.27 and a one year high of $113.95. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 3.05 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50-day simple moving average of $100.68 and a two-hundred day simple moving average of $86.21.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the prior year, the company posted $2.02 earnings per share. On average, equities analysts forecast that East West Bancorp will post 8.39 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, November 4th. East West Bancorp’s dividend payout ratio is currently 27.78%.

Insider Buying and Selling at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. This trade represents a 20.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares of the company’s stock, valued at approximately $11,543,510.50. This represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,969 shares of company stock worth $2,458,276. Insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of East West Bancorp in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp in the third quarter valued at approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp during the 2nd quarter worth approximately $30,000. UMB Bank n.a. lifted its position in shares of East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after buying an additional 283 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new stake in East West Bancorp in the 2nd quarter valued at $31,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.