East West Bancorp, Inc. (NASDAQ:EWBC) Short Interest Update

East West Bancorp, Inc. (NASDAQ:EWBC) 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.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,382,509.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is owned by insiders.

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) 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.