East West Bancorp (NASDAQ:EWBC) Lowered to “Strong Sell” at ValuEngine

ValuEngine lowered shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a strong sell rating in a report released on Friday morning, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. Raymond James downgraded East West Bancorp from a market perform rating to an underperform rating in a research report on Monday, July 8th. Morgan Stanley upgraded East West Bancorp from an equal weight rating to an overweight rating and cut their price objective for the company from $59.00 to $57.00 in a research report on Monday, July 1st. Wedbush reiterated an outperform rating and issued a $50.00 price objective (down previously from $57.00) on shares of East West Bancorp in a research report on Monday, June 3rd. Zacks Investment Research upgraded East West Bancorp from a sell rating to a hold rating and set a $48.00 price objective for the company in a research report on Friday, June 28th. Finally, BidaskClub upgraded East West Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $61.33.

EWBC traded down $0.69 during trading on Friday, hitting $43.80. The company’s stock had a trading volume of 881,689 shares, compared to its average volume of 868,054. The company’s 50 day moving average price is $46.19. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.19. East West Bancorp has a 12 month low of $40.05 and a 12 month high of $66.08. The company has a market capitalization of $6.99 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.62.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.24. East West Bancorp had a return on equity of 15.42% and a net margin of 32.92%. The firm had revenue of $420.09 million during the quarter, compared to the consensus estimate of $416.35 million. During the same quarter in the previous year, the company posted $1.18 EPS. As a group, analysts predict that East West Bancorp will post 4.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. East West Bancorp’s payout ratio is currently 23.61%.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of East West Bancorp by 1.4% during the first quarter. BlackRock Inc. now owns 15,631,046 shares of the financial services provider’s stock worth $749,821,000 after acquiring an additional 210,275 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of East West Bancorp by 0.3% during the first quarter. JPMorgan Chase & Co. now owns 4,923,380 shares of the financial services provider’s stock worth $236,175,000 after acquiring an additional 14,063 shares during the last quarter. Boston Partners raised its position in shares of East West Bancorp by 2.1% during the first quarter. Boston Partners now owns 4,682,285 shares of the financial services provider’s stock worth $224,610,000 after acquiring an additional 94,548 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of East West Bancorp by 132.7% during the first quarter. William Blair Investment Management LLC now owns 3,757,889 shares of the financial services provider’s stock worth $180,266,000 after acquiring an additional 2,142,829 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of East West Bancorp by 46.5% during the first quarter. Principal Financial Group Inc. now owns 3,159,327 shares of the financial services provider’s stock worth $151,555,000 after acquiring an additional 1,002,529 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

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.

Featured Story: What is Considered a Good Return on Equity (ROE)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.