East West Bancorp, Inc. Plans Quarterly Dividend of $0.28 (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) declared a quarterly dividend on Thursday, July 23rd, RTT News reports. Shareholders of record on Tuesday, August 4th will be paid a dividend of 0.275 per share by the financial services provider on Monday, August 17th. This represents a $1.10 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, August 3rd.

East West Bancorp has increased its dividend by an average of 31.9% per year over the last three years and has raised its dividend every year for the last 2 years. East West Bancorp has a dividend payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Analysts expect East West Bancorp to earn $3.92 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 28.1%.

Shares of EWBC opened at $34.66 on Friday. East West Bancorp has a fifty-two week low of $22.55 and a fifty-two week high of $51.88. The firm’s 50 day moving average price is $35.47 and its 200 day moving average price is $36.73. The company has a market cap of $4.90 billion, a P/E ratio of 8.33, a PEG ratio of 0.94 and a beta of 2.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). East West Bancorp had a return on equity of 12.18% and a net margin of 29.90%. The business had revenue of $402.41 million for the quarter, compared to analysts’ expectations of $390.87 million. During the same period in the previous year, the company earned $1.12 earnings per share. East West Bancorp’s quarterly revenue was down 4.2% on a year-over-year basis. Research analysts forecast that East West Bancorp will post 3.69 earnings per share for the current year.

Several equities research analysts recently weighed in on EWBC shares. SunTrust Banks upped their target price on shares of East West Bancorp from $220.00 to $260.00 in a research note on Tuesday, June 30th. Compass Point initiated coverage on shares of East West Bancorp in a report on Tuesday, April 14th. They set a “neutral” rating for the company. UBS Group boosted their price target on shares of East West Bancorp from $24.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. BidaskClub cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Morgan Stanley upped their target price on shares of East West Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.78.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Dividend History for East West Bancorp (NASDAQ:EWBC)

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