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.
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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