East West Bancorp (NASDAQ:EWBC) Upgraded to “Hold” at ValuEngine

Posted by Anthony Sawyer on Dec 4th, 2019

ValuEngine upgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on East West Bancorp from $55.00 to $54.00 and set an overweight rating on the stock in a research note on Tuesday, October 22nd. BidaskClub lowered shares of East West Bancorp from a buy rating to a hold rating in a research note on Tuesday, November 19th. Zacks Investment Research raised shares of East West Bancorp from a sell rating to a hold rating and set a $45.00 target price on the stock in a report on Friday, October 4th. SunTrust Banks reduced their price target on shares of East West Bancorp from $55.00 to $54.00 and set a buy rating on the stock in a research report on Thursday, October 3rd. Finally, Raymond James downgraded shares of East West Bancorp from a market perform rating to an underperform rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. East West Bancorp currently has an average rating of Buy and an average target price of $53.43.

Shares of East West Bancorp stock opened at $44.39 on Tuesday. The business has a 50-day moving average price of $44.40 and a 200 day moving average price of $44.20. East West Bancorp has a fifty-two week low of $37.69 and a fifty-two week high of $56.09. The firm has a market cap of $6.67 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.96 and a beta of 1.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.18.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). East West Bancorp had a return on equity of 14.90% and a net margin of 31.98%. The firm had revenue of $421.28 million for the quarter, compared to the consensus estimate of $418.32 million. During the same period in the prior year, the business earned $1.17 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that East West Bancorp will post 4.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is 23.61%.

A number of large investors have recently added to or reduced their stakes in EWBC. Advantage Investment Management LLC increased its position in East West Bancorp by 64.1% in the second quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock worth $34,000 after buying an additional 280 shares during the period. QCI Asset Management Inc. NY acquired a new stake in shares of East West Bancorp in the 2nd quarter worth about $37,000. Parallel Advisors LLC lifted its position in East West Bancorp by 768.1% in the 3rd quarter. Parallel Advisors LLC now owns 816 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 722 shares during the last quarter. FTB Advisors Inc. bought a new stake in East West Bancorp in the 2nd quarter valued at about $44,000. Finally, Meeder Asset Management Inc. lifted its position in East West Bancorp by 1,042.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 960 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 876 shares during the last quarter. Institutional investors and hedge funds own 87.63% 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.

East West Bancorp (NASDAQ:EWBC) Upgraded to “Hold” at ValuEngine

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