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

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $99.55 and last traded at $98.82, with a volume of 139002 shares. The stock had previously closed at $98.84.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered their price target 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. Wedbush raised their price target on East West Bancorp from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, DA Davidson raised their price target on East West Bancorp from $100.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.46.

East West Bancorp Stock Down 0.4 %

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 stock has a 50 day simple moving average of $84.28 and a 200 day simple moving average of $78.84. The firm has a market capitalization of $13.70 billion, a PE ratio of 12.38, a PEG ratio of 2.20 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same period last year, the company earned $2.02 EPS. As a group, sell-side analysts forecast that East West Bancorp, Inc. will post 8.21 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.23%. East West Bancorp's dividend payout ratio is presently 27.71%.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 18,891 shares of the company's stock, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Lisa L. Kim sold 6,000 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now owns 18,891 shares in the company, valued at $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company's stock, valued at $1,382,509.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EWBC. Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp in the second quarter worth about $30,000. UMB Bank n.a. lifted its stake in shares of East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. American Capital Advisory LLC bought a new stake in East West Bancorp in the second quarter worth $31,000. Signaturefd LLC lifted its holdings in shares of East West Bancorp by 490.1% in the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider's stock worth $39,000 after acquiring an additional 446 shares during the last quarter. Finally, Tobam boosted its position in shares of East West Bancorp by 131.7% during the third quarter. Tobam now owns 482 shares of the financial services provider's stock valued at $40,000 after buying an additional 274 shares during the period. 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.