Truist Financial Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $90.00

East West Bancorp (NASDAQ:EWBCFree Report) had its price objective boosted by Truist Financial from $85.00 to $90.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Barclays began coverage on East West Bancorp in a report on Friday, March 8th. They issued an overweight rating and a $106.00 target price for the company. Piper Sandler boosted their target price on East West Bancorp from $72.00 to $76.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Stephens began coverage on East West Bancorp in a report on Friday, December 8th. They issued an overweight rating and a $79.00 target price for the company. Morgan Stanley boosted their target price on East West Bancorp from $76.00 to $89.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Finally, Compass Point boosted their target price on East West Bancorp from $83.00 to $88.00 and gave the company a buy rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $80.86.

Read Our Latest Report on East West Bancorp

East West Bancorp Trading Down 2.4 %

NASDAQ:EWBC opened at $76.10 on Monday. The stock has a 50-day simple moving average of $73.92 and a 200-day simple moving average of $66.00. The stock has a market cap of $10.66 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.00 and a beta of 1.39. East West Bancorp has a 1 year low of $41.12 and a 1 year high of $79.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $654.70 million during the quarter, compared to analysts’ expectations of $641.91 million. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.37 EPS. As a group, analysts anticipate that East West Bancorp will post 7.91 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Friday, February 2nd were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, February 1st. This is an increase from East West Bancorp’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a yield of 2.89%. East West Bancorp’s dividend payout ratio is currently 26.89%.

Insider Buying and Selling at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jack C. Liu sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at $797,400.46. The disclosure for this sale can be found here. 0.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On East West Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in shares of 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 worth $28,000 after acquiring an additional 211 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the 4th quarter worth approximately $29,000. Denali Advisors LLC grew its holdings in shares of East West Bancorp by 66.7% in the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 200 shares during the period. Planned Solutions Inc. acquired a new stake in shares of East West Bancorp in the 4th quarter worth approximately $40,000. Finally, Global Retirement Partners LLC grew its holdings in shares of East West Bancorp by 1,050.0% in the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 609 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Company Profile

(Get Free Report)

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.

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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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