East West Bancorp (NASDAQ:EWBC) Reaches New 12-Month High – Should You Buy?

East West Bancorp, Inc. (NASDAQ:EWBC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $105.73 and last traded at $104.80, with a volume of 71496 shares trading hands. The stock had previously closed at $97.74.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EWBC shares. Compass Point lifted their target price on East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Wedbush boosted their target price on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citigroup boosted their target price on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Price Performance

The company has a 50 day moving average price of $86.18 and a 200 day moving average price of $79.93. The firm has a market cap of $14.79 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The business 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 in the previous year, the company earned $2.02 EPS. On average, sell-side analysts expect that East West Bancorp, Inc. 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. Investors of record on Monday, November 4th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, November 4th. East West Bancorp’s payout ratio is currently 27.78%.

Insider Activity at East West Bancorp

In related news, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other East West Bancorp news, Director Molly Campbell sold 1,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total transaction of $147,975.00. Following the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rudolph Estrada sold 469 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,740,210. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,969 shares of company stock valued at $1,345,956. 1.04% of the stock is owned by corporate insiders.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of East West Bancorp during the 3rd quarter worth $25,000. UMB Bank n.a. increased its holdings in shares of East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after buying an additional 283 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in East West Bancorp in the 2nd quarter valued at $30,000. American Capital Advisory LLC acquired a new stake in East West Bancorp in the 2nd quarter valued at $31,000. Finally, Tobam increased its holdings in East West Bancorp by 131.7% in the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares in the last quarter. 89.53% of the stock is currently 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.