East West Bancorp (NASDAQ:EWBC) Reaches New 52-Week High - What's Next?

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $107.63 and last traded at $107.61, with a volume of 17631 shares trading hands. The stock had previously closed at $106.72.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EWBC shares. StockNews.com raised shares of East West Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Stephens lifted their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Wedbush lifted their target price on shares of East West Bancorp from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Truist Financial lifted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.25.

East West Bancorp Stock Performance

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's 50 day simple moving average is $88.31 and its 200-day simple moving average is $80.94. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.11 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $641.80 million. During the same quarter in the previous year, the company posted $2.02 EPS. On average, sell-side analysts predict that East West Bancorp, Inc. will post 8.34 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given 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 dividend yield of 2.12%. East West Bancorp's payout ratio is 27.78%.

Insider Activity

In other news, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction dated 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 of the company's stock, 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. In other news, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction dated 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 of the company's stock, 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, Director Rudolph Estrada sold 469 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,740,210. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,969 shares of company stock valued at $2,625,276. 1.04% of the stock is currently owned by insiders.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new stake in East West Bancorp in the 2nd quarter valued at about $3,832,000. SG Americas Securities LLC purchased a new stake in East West Bancorp in the 2nd quarter valued at about $852,000. Empowered Funds LLC purchased a new stake in East West Bancorp in the 1st quarter valued at about $897,000. Janney Montgomery Scott LLC raised its holdings in East West Bancorp by 159.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock valued at $2,448,000 after buying an additional 18,166 shares during the period. Finally, M&G Plc purchased a new stake in East West Bancorp during the second quarter worth about $9,078,000. 89.53% of the stock is currently owned by hedge funds and other 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.