Truist Financial Cuts East West Bancorp (NASDAQ:EWBC) Price Target to $86.00

East West Bancorp (NASDAQ:EWBC - Free Report) had its target price lowered by Truist Financial from $90.00 to $86.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

Several other research firms also recently issued reports on EWBC. Barclays began coverage on shares of East West Bancorp in a report on Friday, March 8th. They set an overweight rating and a $106.00 price objective on the stock. Citigroup raised their price target on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. Piper Sandler raised their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Wedbush reissued an outperform rating and issued a $90.00 price target on shares of East West Bancorp in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $84.08.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC traded down $0.84 during midday trading on Thursday, reaching $76.36. The company's stock had a trading volume of 1,118,648 shares, compared to its average volume of 1,220,017. The firm has a market capitalization of $10.62 billion, a PE ratio of 9.56, a P/E/G ratio of 0.96 and a beta of 1.39. East West Bancorp has a twelve month low of $41.12 and a twelve month high of $79.54. The stock has a fifty day moving average of $74.69 and a 200 day moving average of $68.34. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.00 by $0.08. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. The firm's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $2.32 earnings per share. On average, equities analysts expect that East West Bancorp will post 7.87 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is currently 27.71%.

Insider Activity at East West Bancorp

In related news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now owns 16,739 shares of the company's stock, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Institutional Trading of East West Bancorp

Several institutional investors have recently modified their holdings of EWBC. Nomura Asset Management Co. Ltd. raised its position in East West Bancorp by 29.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 840 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 190 shares during the last quarter. Denali Advisors LLC raised its position in East West Bancorp by 66.7% in the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. First Horizon Advisors Inc. raised its position in East West Bancorp by 65.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 211 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in East West Bancorp by 52.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 666 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 230 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in East West Bancorp by 9.4% in the 4th quarter. Fifth Third Bancorp now owns 2,714 shares of the financial services provider's stock valued at $195,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other 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.