East West Bancorp, Inc. (NASDAQ:EWBC) announced a quarterly dividend on Thursday, October 18th, NASDAQ reports. Stockholders of record on Thursday, November 1st will be paid a dividend of 0.23 per share by the financial services provider on Thursday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, October 31st.
East West Bancorp has raised its dividend by an average of 3.6% annually over the last three years. East West Bancorp has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect East West Bancorp to earn $5.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 18.0%.
Shares of NASDAQ:EWBC opened at $52.49 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.45 billion, a PE ratio of 15.17, a PEG ratio of 1.06 and a beta of 1.31. East West Bancorp has a 1 year low of $50.34 and a 1 year high of $73.98.
A number of research firms have weighed in on EWBC. Barclays lowered their price objective on East West Bancorp from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, July 20th. BidaskClub raised East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Morgan Stanley boosted their price objective on East West Bancorp from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods raised East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. East West Bancorp presently has a consensus rating of “Buy” and an average price target of $71.67.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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