Barclays Lowers East West Bancorp (NASDAQ:EWBC) Price Target to $105.00

East West Bancorp (NASDAQ:EWBC - Free Report) had its price target lowered by Barclays from $120.00 to $105.00 in a report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider's stock.

Several other research firms have also recently weighed in on EWBC. Stephens cut East West Bancorp from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th. Compass Point raised their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Piper Sandler reduced their target price on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. DA Davidson decreased their target price on East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Finally, StockNews.com cut East West Bancorp from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.46.

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East West Bancorp Stock Performance

NASDAQ:EWBC traded up $0.99 during midday trading on Tuesday, reaching $72.16. The stock had a trading volume of 1,362,350 shares, compared to its average volume of 911,121. The stock has a market capitalization of $9.99 billion, a P/E ratio of 8.66, a PEG ratio of 1.29 and a beta of 1.09. East West Bancorp has a 1-year low of $68.27 and a 1-year high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The firm's fifty day simple moving average is $89.37 and its 200-day simple moving average is $95.07.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a $0.60 dividend. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Monday, February 3rd. East West Bancorp's payout ratio is presently 28.81%.

Insider Transactions at East West Bancorp

In related news, CEO Dominic Ng sold 20,181 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the transaction, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack C. Liu sold 725 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total value of $75,762.50. Following the completion of the transaction, the director now owns 15,832 shares in the company, valued at approximately $1,654,444. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,181 shares of company stock worth $5,625,732. Insiders own 1.04% of the company's stock.

Institutional Trading of East West Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of East West Bancorp in the 3rd quarter valued at $26,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in East West Bancorp during the fourth quarter worth about $26,000. Venturi Wealth Management LLC boosted its holdings in shares of East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after buying an additional 175 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of East West Bancorp by 89.7% in the first quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock valued at $46,000 after buying an additional 245 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in East West Bancorp by 119.1% during the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock worth $54,000 after buying an additional 306 shares during 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.