Brokerages Set East West Bancorp, Inc. (NASDAQ:EWBC) PT at $99.46

Shares of East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $99.46.

A number of analysts have recently commented on the stock. DA Davidson boosted their target price on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Truist Financial raised 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, October 23rd. Piper Sandler boosted their price target on East West Bancorp from $87.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Morgan Stanley raised their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Finally, Wells Fargo & Company increased their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd.

East West Bancorp Price Performance

NASDAQ EWBC traded down $0.34 during trading hours on Monday, reaching $96.46. The company's stock had a trading volume of 558,221 shares, compared to its average volume of 928,075. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp has a 1-year low of $55.43 and a 1-year high of $101.31. The company's 50-day moving average is $85.59 and its two-hundred day moving average is $79.58. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 2.85 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, beating analysts' consensus estimates of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter last year, the firm posted $2.02 EPS. On average, equities analysts predict that East West Bancorp will post 8.31 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.28%. The ex-dividend date is Monday, November 4th. East West Bancorp's dividend payout ratio (DPR) is presently 27.78%.

Insider Activity

In related news, Director Molly Campbell sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the transaction, the director now owns 10,639 shares of the company's stock, valued at approximately $1,049,537.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred 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 completion of the transaction, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Molly Campbell sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the transaction, the director now directly owns 10,639 shares of the company's stock, valued at $1,049,537.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,500 shares of company stock valued at $1,299,975. Company insiders own 1.04% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in shares of East West Bancorp during the third quarter worth about $5,952,000. State of New Jersey Common Pension Fund D increased its position in shares of East West Bancorp by 5.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,362 shares of the financial services provider's stock valued at $2,926,000 after purchasing an additional 1,891 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of East West Bancorp by 23.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,835 shares of the financial services provider's stock valued at $813,000 after purchasing an additional 1,865 shares in the last quarter. Covestor Ltd lifted its position in shares of East West Bancorp by 7.4% during the 3rd quarter. Covestor Ltd now owns 1,537 shares of the financial services provider's stock worth $128,000 after purchasing an additional 106 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of East West Bancorp by 5.2% during the third quarter. Verdence Capital Advisors LLC now owns 4,884 shares of the financial services provider's stock worth $404,000 after purchasing an additional 243 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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.