Citigroup Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $109.00

by · The Markets Daily

East West Bancorp (NASDAQ:EWBC – Free Report) had its price objective boosted by Citigroup from $103.00 to $109.00 in a report issued on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Truist Financial lowered their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th. Wedbush boosted their price target on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. DA Davidson increased their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

Read Our Latest Analysis on East West Bancorp

East West Bancorp Stock Down 2.2 %

East West Bancorp stock opened at $95.10 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $83.94 and its two-hundred day moving average price is $78.63. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.29. East West Bancorp has a 1-year low of $52.29 and a 1-year high of $98.95.

East West Bancorp (NASDAQ:EWBC – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a return on equity of 16.41% and a net margin of 24.96%. During the same quarter in the previous year, the business earned $2.02 EPS. On average, equities research analysts predict that East West Bancorp will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.31%. East West Bancorp’s payout ratio is presently 27.78%.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares in the company, valued at $1,486,343.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EWBC. CIBC Asset Management Inc lifted its holdings in shares of East West Bancorp by 2.8% in the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after buying an additional 128 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 133 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in East West Bancorp by 4.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in East West Bancorp by 3.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 160 shares during the period. Finally, First Citizens Bank & Trust Co. grew its position in shares of East West Bancorp by 5.5% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,178 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

About East West Bancorp

(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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