Piper Sandler Increases East West Bancorp (NASDAQ:EWBC) Price Target to $95.00

East West Bancorp (NASDAQ:EWBC) had its price target lifted by Piper Sandler from $87.00 to $95.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on EWBC. Truist Financial raised their target price on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Jefferies Financial Group decreased their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Morgan Stanley increased their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Stephens boosted their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Trading Down 2.2 %

Shares of NASDAQ EWBC opened at $95.10 on Wednesday. East West Bancorp has a fifty-two week low of $52.29 and a fifty-two week high of $98.95. The firm has a market capitalization of $13.23 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $83.94 and its 200 day simple moving average is $78.62.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the prior year, the business posted $2.02 EPS. On average, analysts predict that East West Bancorp will post 8.2 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.31%. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Buying and Selling

In related news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp 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 sale, the executive vice president now directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, 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 disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of East West Bancorp during the 1st quarter worth approximately $3,961,000. Manning & Napier Advisors LLC bought a new position in shares of East West Bancorp in the second quarter valued at $3,832,000. Inspire Investing LLC increased its holdings in East West Bancorp by 197.8% during the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock worth $1,255,000 after buying an additional 10,535 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in East West Bancorp during the first quarter worth $909,000. Finally, SG Americas Securities LLC bought a new stake in East West Bancorp during the second quarter worth $852,000. 89.53% of the stock is 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.