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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits. Its loan products include mortgage and home equity, commercial and residential real estate, working capital lines of credit, construction, trade finance, letters of credit, commercial business, affordable housing loans, asset-based lending, asset-backed finance, project finance, and equipment financing, as well as financing services to clients needing a financial bridge to facilitate their business transactions between the United States and China. The company also provides various wealth management, treasury management, foreign exchange, and interest rate and commodity risk hedging services; and mobile and online banking services. As of January 27, 2022, it operated approximately 120 locations in the United States and China; full-service branches in Hong Kong, Shanghai, Shantou, and Shenzhen; and representative offices in Beijing, Chongqing, Guangzhou, Taipei, and Xiamen. East West Bancorp, Inc. was incorporated in 1998 and is headquartered in Pasadena, California.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of East West Bancorp to $74.00 in a research report on Monday, July 25th. Wedbush boosted their price objective on East West Bancorp to $80.00 in a research note on Friday, July 22nd. Truist Financial cut their target price on East West Bancorp from $100.00 to $80.00 in a research note on Wednesday, June 15th. Jefferies Financial Group lowered their price target on shares of East West Bancorp from $102.00 to $79.00 in a research report on Monday, July 11th. Finally, Wells Fargo & Company raised their price objective on shares of East West Bancorp from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, April 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.00.
East West Bancorp Stock Up 1.8 %
Shares of EWBC opened at $75.99 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.71 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 0.98 and a beta of 1.53. The company's 50-day moving average price is $68.22 and its 200 day moving average price is $75.14. East West Bancorp has a 12-month low of $61.65 and a 12-month high of $93.51.
East West Bancorp (NASDAQ:EWBC - Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.68 by $0.13. The firm had revenue of $551.00 million for the quarter, compared to analyst estimates of $525.37 million. East West Bancorp had a net margin of 45.32% and a return on equity of 16.45%. During the same period in the prior year, the business posted $1.57 EPS. The business's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, sell-side analysts forecast that East West Bancorp will post 7.79 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 Monday, August 15th. Stockholders of record on Monday, August 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. East West Bancorp's dividend payout ratio is currently 24.39%.