BidaskClub Lowers East West Bancorp (EWBC) to Sell

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

Several other analysts have also weighed in on the stock. ValuEngine lowered shares of East West Bancorp from a sell rating to a strong sell rating in a research note on Monday, May 13th. Zacks Investment Research upgraded shares of East West Bancorp from a sell rating to a hold rating in a research note on Thursday, May 9th. Wedbush lifted their price objective on shares of East West Bancorp from $59.00 to $62.00 and gave the company an outperform rating in a research note on Friday, March 8th. Finally, TheStreet upgraded shares of East West Bancorp from a c+ rating to a b rating in a research note on Thursday, February 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $64.63.

NASDAQ:EWBC opened at $47.08 on Tuesday. The firm has a market capitalization of $6.97 billion, a PE ratio of 10.10, a P/E/G ratio of 0.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. East West Bancorp has a twelve month low of $40.05 and a twelve month high of $73.98.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). The company had revenue of $404.59 million during the quarter, compared to the consensus estimate of $411.11 million. East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. During the same quarter in the prior year, the firm earned $1.13 EPS. Analysts forecast that East West Bancorp will post 4.99 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.275 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.10 annualized dividend and a yield of 2.34%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.23. East West Bancorp’s dividend payout ratio (DPR) is presently 23.61%.

In related news, Director Jack C. Liu sold 2,108 shares of East West Bancorp stock in a transaction on Monday, March 4th. The shares were sold at an average price of $55.20, for a total value of $116,361.60. Following the completion of the sale, the director now owns 18,857 shares of the company’s stock, valued at approximately $1,040,906.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Laurel Wealth Advisors Inc. purchased a new position in East West Bancorp during the 1st quarter worth $482,000. FMR LLC boosted its holdings in East West Bancorp by 51.5% during the 1st quarter. FMR LLC now owns 510,524 shares of the financial services provider’s stock worth $24,490,000 after acquiring an additional 173,633 shares during the last quarter. BlueMountain Capital Management LLC boosted its holdings in East West Bancorp by 271.3% during the 1st quarter. BlueMountain Capital Management LLC now owns 99,545 shares of the financial services provider’s stock worth $4,775,000 after acquiring an additional 72,735 shares during the last quarter. HighTower Advisors LLC boosted its holdings in East West Bancorp by 23.3% during the 1st quarter. HighTower Advisors LLC now owns 9,542 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 1,804 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in East West Bancorp by 7.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,921 shares of the financial services provider’s stock worth $1,149,000 after acquiring an additional 1,753 shares during the last quarter. 88.99% 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 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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