East West Bancorp, Inc. (NASDAQ:EWBC) has been given a consensus rating of "Hold" by the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.67.
A number of equities analysts recently weighed in on the stock. SunTrust Banks boosted their target price on shares of East West Bancorp from $220.00 to $260.00 in a report on Tuesday, June 30th. Wells Fargo & Company restated a "hold" rating and set a $33.00 target price (up from $31.00) on shares of East West Bancorp in a report on Tuesday, July 7th. DA Davidson upped their price objective on shares of East West Bancorp from $33.00 to $37.00 in a report on Friday, June 19th. Morgan Stanley decreased their price objective on shares of East West Bancorp from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, August 4th. Finally, BMO Capital Markets upped their price objective on shares of East West Bancorp from $34.00 to $36.00 and gave the company a "market perform" rating in a report on Friday, July 24th.
Shares of NASDAQ EWBC traded up $0.49 during midday trading on Wednesday, reaching $34.51. The company's stock had a trading volume of 26,124 shares, compared to its average volume of 1,365,447. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. East West Bancorp has a fifty-two week low of $22.55 and a fifty-two week high of $51.88. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.95 and a beta of 1.96. The stock has a 50 day simple moving average of $36.60 and a 200-day simple moving average of $34.29.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.74 by ($0.04). The firm had revenue of $402.41 million for the quarter, compared to analyst estimates of $390.87 million. East West Bancorp had a return on equity of 12.18% and a net margin of 29.90%. East West Bancorp's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, equities analysts anticipate that East West Bancorp will post 3.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Tuesday, August 4th were given a $0.275 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.19%. East West Bancorp's payout ratio is presently 22.73%.
Several institutional investors have recently made changes to their positions in the company. Telemus Capital LLC boosted its position in shares of East West Bancorp by 3.5% in the second quarter. Telemus Capital LLC now owns 8,668 shares of the financial services provider's stock valued at $296,000 after acquiring an additional 293 shares during the period. Smith Graham & Co. Investment Advisors LP boosted its position in shares of East West Bancorp by 0.4% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 103,076 shares of the financial services provider's stock valued at $3,735,000 after acquiring an additional 399 shares during the period. Arizona State Retirement System boosted its position in shares of East West Bancorp by 1.2% in the second quarter. Arizona State Retirement System now owns 33,922 shares of the financial services provider's stock valued at $1,229,000 after acquiring an additional 410 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of East West Bancorp by 1.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 25,480 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 480 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of East West Bancorp by 3.9% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,501 shares of the financial services provider's stock valued at $348,000 after acquiring an additional 510 shares during the period. 91.03% of the stock is owned by institutional investors.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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