UBS Group Initiates Coverage on East West Bancorp (NASDAQ:EWBC)

UBS Group assumed coverage on shares of East West Bancorp (NASDAQ:EWBC) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $112.00 target price on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company increased their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Citigroup increased their target price on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on East West Bancorp from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley increased their price objective on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Compass Point boosted their target price on shares of East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.77.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $94.87 on Tuesday. The firm has a market capitalization of $13.15 billion, a PE ratio of 11.98, a PEG ratio of 3.05 and a beta of 1.28. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp has a 1-year low of $67.27 and a 1-year high of $113.95. The business’s 50 day moving average is $101.07 and its 200-day moving average is $86.33.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same quarter in the previous year, the firm posted $2.02 EPS. Sell-side analysts predict that East West Bancorp will post 8.39 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Monday, November 4th. East West Bancorp’s dividend payout ratio is presently 27.78%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total value of $147,975.00. Following the completion of the sale, the director now directly owns 10,639 shares of the company’s stock, valued at $1,049,537.35. This trade represents a 12.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,969 shares of company stock worth $2,458,276. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of East West Bancorp in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in East West Bancorp in the third quarter valued at approximately $26,000. Cullen Frost Bankers Inc. bought a new position in East West Bancorp in the second quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 283 shares during the period. Finally, American Capital Advisory LLC bought a new stake in shares of East West Bancorp during the 2nd quarter valued at $31,000. 89.53% of the stock is owned by institutional investors.

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.