East West Bancorp (NASDAQ:EWBC) Reaches New 52-Week Low at $39.94

East West Bancorp, Inc. (NASDAQ:EWBC) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $39.94 and last traded at $40.42, with a volume of 5425 shares changing hands. The stock had previously closed at $41.14.

Several analysts recently issued reports on EWBC shares. Morgan Stanley upgraded East West Bancorp from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $59.00 to $57.00 in a research note on Monday, July 1st. Raymond James downgraded East West Bancorp from a “market perform” rating to an “underperform” rating in a research note on Monday, July 8th. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Friday, June 28th. BidaskClub downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine downgraded East West Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $61.33.

The company has a market capitalization of $5.86 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.03. The business’s fifty day simple moving average is $45.70.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued 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 2.78%. East West Bancorp’s dividend payout ratio (DPR) is currently 23.61%.

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its holdings in shares of East West Bancorp by 30.4% during the 1st quarter. Toronto Dominion Bank now owns 27,639 shares of the financial services provider’s stock worth $1,326,000 after buying an additional 6,437 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of East West Bancorp by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 74,893 shares of the financial services provider’s stock worth $3,503,000 after buying an additional 629 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of East West Bancorp by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 15,739 shares of the financial services provider’s stock worth $754,000 after buying an additional 220 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of East West Bancorp by 11.0% during the 1st quarter. First Republic Investment Management Inc. now owns 480,489 shares of the financial services provider’s stock worth $23,049,000 after buying an additional 47,503 shares in the last quarter. Finally, Mason Street Advisors LLC raised its holdings in shares of East West Bancorp by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 77,085 shares of the financial services provider’s stock worth $3,698,000 after buying an additional 1,155 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

East West Bancorp Company Profile (NASDAQ:EWBC)

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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