East West Bancorp (NASDAQ:EWBC) Cut to Hold at BidaskClub

BidaskClub lowered shares of East West Bancorp (NASDAQ:EWBC) from a buy rating to a hold rating in a report released on Wednesday, BidAskClub reports.

A number of other research firms also recently commented on EWBC. Raymond James downgraded shares of East West Bancorp from a market perform rating to an underperform rating in a research report on Monday, July 8th. Wedbush reissued an outperform rating and set a $50.00 target price (down previously from $57.00) on shares of East West Bancorp in a research report on Monday, June 3rd. ValuEngine downgraded shares of East West Bancorp from a sell rating to a strong sell rating in a research report on Friday, August 2nd. Zacks Investment Research raised shares of East West Bancorp from a sell rating to a hold rating and set a $48.00 target price on the stock in a research report on Friday, June 28th. Finally, Morgan Stanley raised shares of East West Bancorp from an equal weight rating to an overweight rating and cut their target price for the company from $59.00 to $57.00 in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. East West Bancorp currently has an average rating of Hold and a consensus price target of $61.33.

NASDAQ EWBC opened at $39.91 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.62. The company’s 50-day simple moving average is $45.34 and its two-hundred day simple moving average is $48.54. East West Bancorp has a one year low of $38.24 and a one year high of $66.00.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The business had revenue of $420.09 million for the quarter, compared to the consensus estimate of $416.35 million. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. During the same quarter last year, the firm posted $1.18 EPS. Equities analysts expect that East West Bancorp will post 4.89 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, July 31st. East West Bancorp’s payout ratio is currently 23.61%.

Institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in East West Bancorp by 44.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Signaturefd LLC lifted its stake in East West Bancorp by 15.4% during the 1st quarter. Signaturefd LLC now owns 1,637 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 218 shares during the period. State of Alaska Department of Revenue lifted its stake in East West Bancorp by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 15,739 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 220 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in East West Bancorp by 1.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,864 shares of the financial services provider’s stock valued at $1,337,000 after acquiring an additional 272 shares during the period. Finally, Burney Co. lifted its stake in East West Bancorp by 4.9% during the 1st quarter. Burney Co. now owns 5,850 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 275 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

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