East West Bancorp, Inc. (NASDAQ:EWBC) has been given an average rating of “Hold” by the sixteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $70.30.
A number of equities research analysts recently issued reports on EWBC shares. Piper Jaffray Companies set a $74.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. Wedbush reissued an “outperform” rating and issued a $66.00 target price (down previously from $68.00) on shares of East West Bancorp in a research report on Friday, October 20th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, October 24th. Morgan Stanley lifted their target price on East West Bancorp from $61.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Finally, SunTrust Banks reissued a “buy” rating and issued a $68.00 target price on shares of East West Bancorp in a research report on Wednesday, November 29th.
In other East West Bancorp news, Director Iris S. Chan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $66.69, for a total value of $133,380.00. Following the completion of the transaction, the director now directly owns 20,301 shares in the company, valued at $1,353,873.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total value of $306,300.00. Following the completion of the transaction, the insider now owns 18,015 shares of the company’s stock, valued at $1,103,598.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,200 shares of company stock valued at $704,434. Corporate insiders own 0.88% of the company’s stock.
Shares of East West Bancorp (EWBC) traded up $0.50 during trading on Friday, reaching $64.75. The company had a trading volume of 437,800 shares, compared to its average volume of 847,528. East West Bancorp has a 1-year low of $48.07 and a 1-year high of $69.25. The firm has a market cap of $9,286.88, a price-to-earnings ratio of 19.01, a PEG ratio of 1.39 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The firm had revenue of $365.06 million during the quarter, compared to analyst estimates of $359.43 million. During the same period in the prior year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. analysts anticipate that East West Bancorp will post 4.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 5th will be paid a $0.20 dividend. The ex-dividend date is Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. East West Bancorp’s dividend payout ratio is 23.12%.
WARNING: “Brokerages Set East West Bancorp, Inc. (EWBC) PT at $70.27” was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.themarketsdaily.com/2018/02/14/brokerages-set-east-west-bancorp-inc-ewbc-pt-at-70-27.html.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.