East West Bancorp (NASDAQ:EWBC) Price Target Raised to $110.00

East West Bancorp (NASDAQ:EWBC - Free Report) had its target price boosted by Compass Point from $93.00 to $110.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

Several other equities analysts have also recently issued reports on EWBC. Jefferies Financial Group dropped their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, July 3rd. Piper Sandler increased their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday. StockNews.com lowered East West Bancorp from a "hold" rating to a "sell" rating in a report on Monday. DA Davidson increased their target price on East West Bancorp from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Stephens raised their price target on East West Bancorp from $91.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.46.

East West Bancorp Stock Performance

NASDAQ EWBC traded up $1.56 during trading on Thursday, reaching $97.19. The company's stock had a trading volume of 968,218 shares, compared to its average volume of 932,472. The business's fifty day moving average price is $83.31 and its 200-day moving average price is $78.36. East West Bancorp has a twelve month low of $51.40 and a twelve month high of $98.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.08 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm 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 firm posted $2.02 EPS. As a group, analysts anticipate that East West Bancorp will post 8.2 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.26%. East West Bancorp's payout ratio is 27.71%.

Insider Buying and Selling at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. This represents 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 the SEC website. In other news, Director Rudolph Estrada sold 1,896 shares of the company's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently modified their holdings of EWBC. Riverview Trust Co purchased a new position in shares of East West Bancorp during the 1st quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new position in East West Bancorp during the second quarter worth about $30,000. UMB Bank n.a. boosted its stake in 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 worth $30,000 after buying an additional 283 shares during the last quarter. American Capital Advisory LLC purchased a new stake in East West Bancorp in the 2nd quarter valued at about $31,000. Finally, Signaturefd LLC increased its stake in shares of East West Bancorp by 490.1% during the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

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.