ValuEngine Downgrades East West Bancorp (EWBC) to Strong Sell

ValuEngine downgraded shares of East West Bancorp (NASDAQ:EWBC) from a sell rating to a strong sell rating in a research note released on Monday morning, ValuEngine reports.

A number of other research analysts also recently commented on EWBC. Zacks Investment Research upgraded East West Bancorp from a sell rating to a hold rating in a research note on Wednesday, April 24th. BidaskClub downgraded East West Bancorp from a hold rating to a sell rating in a research note on Friday, March 22nd. Finally, Wedbush upped their price objective on East West Bancorp from $59.00 to $62.00 and gave the stock an outperform rating in a research note on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $64.63.

EWBC stock opened at $47.84 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.90 billion, a P/E ratio of 10.27, a PEG ratio of 0.89 and a beta of 1.55. East West Bancorp has a 12-month low of $40.05 and a 12-month high of $73.98.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.06). The firm had revenue of $404.59 million for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $1.13 earnings per share. Sell-side analysts expect that East West Bancorp will post 4.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.275 dividend. This is a boost from East West Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.10 annualized dividend and a dividend yield of 2.30%. East West Bancorp’s dividend payout ratio is presently 23.61%.

In related news, Director Jack C. Liu sold 2,108 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $55.20, for a total transaction of $116,361.60. Following the completion of the transaction, the director now owns 18,857 shares of the company’s stock, valued at $1,040,906.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

A number of hedge funds have recently made changes to their positions in EWBC. Berman Capital Advisors LLC lifted its holdings in shares of East West Bancorp by 170.4% during the first quarter. Berman Capital Advisors LLC now owns 622 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 392 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of East West Bancorp by 44.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in shares of East West Bancorp during the fourth quarter valued at $30,000. Gemmer Asset Management LLC lifted its holdings in shares of East West Bancorp by 69.6% during the first quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 293 shares during the last quarter. Finally, Icon Wealth Partners LLC purchased a new stake in shares of East West Bancorp during the first quarter valued at $37,000. 88.99% of the stock is 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 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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