Barclays Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $108.00

East West Bancorp (NASDAQ:EWBC) had its price target hoisted by Barclays from $105.00 to $108.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also commented on the company. Jefferies Financial Group decreased their price objective on East West Bancorp from $94.00 to $85.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Stephens raised their target price on East West Bancorp from $86.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their target price on East West Bancorp from $85.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on East West Bancorp from $95.00 to $103.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Finally, DA Davidson raised their target price on East West Bancorp from $92.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $89.53.

East West Bancorp Stock Up 0.4 %

East West Bancorp stock opened at $81.53 on Friday. East West Bancorp has a twelve month low of $49.59 and a twelve month high of $89.75. The business has a fifty day moving average of $81.50 and a two-hundred day moving average of $77.05. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $11.34 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts forecast that East West Bancorp will post 8.17 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, August 2nd. East West Bancorp’s payout ratio is presently 27.71%.

Insider Activity

In other news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the sale, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On East West Bancorp

Institutional investors have recently modified their holdings of the business. Miller Howard Investments Inc. NY acquired a new position in shares of East West Bancorp in the first quarter worth $39,347,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of East West Bancorp during the first quarter worth $3,961,000. Manning & Napier Advisors LLC acquired a new position in shares of East West Bancorp during the second quarter worth $3,832,000. Inspire Investing LLC grew its stake in shares of East West Bancorp by 197.8% during the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock worth $1,255,000 after purchasing an additional 10,535 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of East West Bancorp during the first quarter worth $909,000. Institutional investors and hedge funds 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.