Compass Point Boosts East West Bancorp (NASDAQ:EWBC) Price Target to $110.00

East West Bancorp (NASDAQ:EWBC) had its price target raised by Compass Point from $93.00 to $110.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Barclays raised their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial raised their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, DA Davidson raised their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.46.

East West Bancorp Trading Down 2.2 %

NASDAQ EWBC opened at $95.10 on Thursday. East West Bancorp has a twelve month low of $52.29 and a twelve month high of $98.95. The business’s fifty day moving average is $83.94 and its 200 day moving average is $78.63. 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 company has a market cap 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 (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $2.02 earnings per share. As a group, sell-side analysts expect that East West Bancorp will post 8.21 EPS for the current fiscal year.

East West Bancorp Announces Dividend

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in shares of East West Bancorp during the first quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp during the second quarter valued at about $30,000. UMB Bank n.a. grew its holdings in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after buying an additional 283 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of East West Bancorp during the second quarter valued at about $31,000. Finally, Signaturefd LLC lifted its position in shares of East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 446 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.