DA Davidson Cuts East West Bancorp (NASDAQ:EWBC) Price Target to $118.00

East West Bancorp (NASDAQ:EWBC) had its price target reduced by DA Davidson from $120.00 to $118.00 in a report published on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley lifted their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. UBS Group started coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price target for the company. Compass Point raised their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.23.

East West Bancorp Stock Performance

Shares of East West Bancorp stock opened at $102.93 on Friday. The stock’s fifty day simple moving average is $101.30 and its 200 day simple moving average is $91.31. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.27 billion, a PE ratio of 13.00, a PEG ratio of 2.85 and a beta of 1.30. East West Bancorp has a 12 month low of $67.27 and a 12 month high of $113.95.

East West Bancorp Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, February 17th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.60 per share. This represents a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, February 3rd. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

Insider Activity

In other news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the transaction, the director now directly owns 10,639 shares in the company, valued at approximately $1,049,537.35. The trade was a 12.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the sale, the insider now owns 45,403 shares in the company, valued at approximately $4,840,413.83. This trade represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in East West Bancorp in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of East West Bancorp during the third quarter worth approximately $26,000. UMB Bank n.a. lifted its holdings in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares during the last quarter. Tobam boosted its stake in East West Bancorp by 131.7% in the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in East West Bancorp in the 3rd quarter valued at $79,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.