East West Bancorp (NASDAQ:EWBC) Price Target Raised to $107.00 at DA Davidson

East West Bancorp (NASDAQ:EWBC) had its target price raised by DA Davidson from $100.00 to $107.00 in a research report sent to investors on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for East West Bancorp’s Q4 2024 earnings at $2.17 EPS.

Other equities analysts have also recently issued research reports about the company. Citigroup lifted their price objective on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group cut their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Truist Financial lifted their target price on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens lifted their target price on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler lifted their target price on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Trading Down 2.2 %

NASDAQ:EWBC opened at $95.10 on Wednesday. East West Bancorp has a fifty-two week low of $52.29 and a fifty-two week high of $98.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $13.18 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.29. The business’s 50-day simple moving average is $83.94 and its 200-day simple moving average is $78.63.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the previous year, the business posted $2.02 EPS. Sell-side analysts expect that East West Bancorp will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

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

Insiders Place Their Bets

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $1,382,509.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp 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 disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in East West Bancorp in the 1st quarter valued at $25,000. Oak Thistle LLC bought a new stake in East West Bancorp in the 1st quarter valued at $262,000. State of Michigan Retirement System boosted its stake in East West Bancorp by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 34,622 shares of the financial services provider’s stock valued at $2,739,000 after purchasing an additional 800 shares during the period. Norden Group LLC bought a new stake in East West Bancorp in the 1st quarter valued at $414,000. Finally, First Trust Direct Indexing L.P. bought a new stake in East West Bancorp in the 1st quarter valued at $206,000. 89.53% of the stock is currently owned by institutional investors.

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.