Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have earned an average rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $61.88.
A number of research firms have issued reports on EWBC. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, ValuEngine downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, May 13th.
Several large investors have recently modified their holdings of the stock. Berman Capital Advisors LLC raised its stake in East West Bancorp by 170.4% in the 1st quarter. Berman Capital Advisors LLC now owns 622 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 392 shares during the period. SeaBridge Investment Advisors LLC bought a new stake in shares of East West Bancorp during the fourth quarter valued at about $30,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of East West Bancorp by 44.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock valued at $32,000 after buying an additional 208 shares during the period. Gemmer Asset Management LLC increased its position in shares of East West Bancorp by 69.6% during the first quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock valued at $34,000 after buying an additional 293 shares during the period. Finally, Icon Wealth Partners LLC bought a new stake in shares of East West Bancorp during the first quarter valued at about $37,000. 88.88% of the stock is currently owned by institutional investors.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.06). The business had revenue of $404.59 million for the quarter, compared to the consensus estimate of $411.11 million. East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. During the same quarter last year, the firm posted $1.13 EPS. On average, equities analysts predict that East West Bancorp will post 4.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.275 dividend. This is an increase from East West Bancorp’s previous quarterly dividend of $0.23. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, April 30th. East West Bancorp’s payout ratio is 23.61%.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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