East West Bancorp (NASDAQ:EWBC) Given New $110.00 Price Target at Compass Point

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

Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective 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. Morgan Stanley increased their price objective 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. DA Davidson increased their price objective 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. Wells Fargo & Company increased their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. One 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. According to data from MarketBeat, East West Bancorp has an average rating of “Moderate Buy” and an average target price of $99.46.

East West Bancorp Stock Performance

East West Bancorp stock traded down $1.40 during mid-day trading on Thursday, reaching $95.79. The company had a trading volume of 125,645 shares, compared to its average volume of 928,575. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 52 week low of $52.29 and a 52 week high of $98.95. The company has a 50 day moving average of $83.66 and a 200-day moving average of $78.49. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.08 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data 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. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the prior year, the company posted $2.02 EPS. On average, sell-side analysts expect that East West Bancorp will post 8.2 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced 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 dividend yield of 2.30%. The ex-dividend date is Monday, November 4th. East West Bancorp’s dividend payout ratio is presently 27.71%.

Insider Buying and Selling at East West Bancorp

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 stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Lisa L. Kim sold 6,000 shares of the firm’s 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 of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the firm’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 directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Several hedge funds have recently modified their holdings of EWBC. Diversify Advisory Services LLC raised its position in East West Bancorp by 11.0% during the 3rd quarter. Diversify Advisory Services LLC now owns 15,426 shares of the financial services provider’s stock worth $1,394,000 after purchasing an additional 1,529 shares during the last quarter. State of Alaska Department of Revenue raised its position in East West Bancorp by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,648 shares of the financial services provider’s stock worth $2,618,000 after purchasing an additional 810 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in East West Bancorp by 21.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,366 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 760 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in East West Bancorp by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,845 shares of the financial services provider’s stock worth $6,917,000 after purchasing an additional 8,134 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in East West Bancorp during the 3rd quarter worth $3,142,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Company Profile

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.