East West Bancorp, Inc. (NASDAQ:EWBC) announced a quarterly dividend on Thursday, July 20th, Fidelity reports. Investors of record on Tuesday, August 1st will be paid a dividend of 0.20 per share by the financial services provider on Tuesday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, July 28th.
Shares of East West Bancorp (EWBC) traded down 2.86% during midday trading on Thursday, reaching $54.70. The company had a trading volume of 673,978 shares. East West Bancorp has a one year low of $34.08 and a one year high of $60.42. The company has a market capitalization of $7.90 billion, a PE ratio of 15.62 and a beta of 1.41. The company has a 50 day moving average of $57.69 and a 200 day moving average of $55.05.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $337.49 million for the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period in the prior year, the firm earned $0.71 EPS. Analysts predict that East West Bancorp will post $3.74 EPS for the current fiscal year.
In related news, Director Jack C. Liu sold 1,123 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the sale, the director now owns 23,669 shares of the company’s stock, valued at $1,396,471. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.
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EWBC has been the topic of a number of research analyst reports. Deutsche Bank AG downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research note on Friday, July 14th. Barclays PLC restated an “overweight” rating and issued a $63.00 target price (up from $61.00) on shares of East West Bancorp in a research note on Sunday, April 23rd. BidaskClub downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 target price on shares of East West Bancorp in a research note on Friday, June 23rd. Finally, Zacks Investment Research cut shares of East West Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. East West Bancorp currently has an average rating of “Hold” and a consensus target price of $62.88.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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