East West Bancorp (EWBC) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of East West Bancorp (NASDAQ:EWBC) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “East West Bancorp, Inc. is the holding company for East West Bank. East West Bank commenced operations in 1973 as a federally chartered savings institution serving the immigrant Chinese-American community. Through the years, East West has grown into a full service commercial bank focused on the U.S. and Greater China markets. As one of the few U.S. banks with a full banking license in China and decades of cross-border banking experience, East West is the leading bank serving the Asian community in the U.S. East West Bank is headquartered in Pasadena, California and has over many locations in the U.S. and Greater China. In the U.S., East West has branches in California, Georgia, Massachusetts, Nevada, New York, Texas and Washington. In Greater China, East West’s presence includes full service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, Taipei and Xiamen. “

Several other equities research analysts also recently issued reports on the company. BidaskClub raised East West Bancorp from a sell rating to a hold rating in a research note on Friday, February 9th. Deutsche Bank raised East West Bancorp from a hold rating to a buy rating in a research note on Tuesday, February 6th. ValuEngine raised East West Bancorp from a hold rating to a buy rating in a research note on Friday, February 2nd. Morgan Stanley increased their price objective on East West Bancorp from $69.00 to $70.00 and gave the stock an equal weight rating in a research note on Wednesday, January 31st. Finally, Barclays increased their price objective on East West Bancorp from $70.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $69.50.

Shares of East West Bancorp (NASDAQ:EWBC) opened at $66.85 on Tuesday. The stock has a market capitalization of $9,670.00, a PE ratio of 19.27, a P/E/G ratio of 1.45 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. East West Bancorp has a one year low of $48.07 and a one year high of $69.25.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. analysts predict that East West Bancorp will post 4.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, February 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 23.05%.

In other news, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now directly owns 18,015 shares of the company’s stock, valued at approximately $1,103,598.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the sale, the director now directly owns 23,599 shares of the company’s stock, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders have sold a total of 11,200 shares of company stock valued at $704,434 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of EWBC. Advisor Group Inc. raised its stake in shares of East West Bancorp by 14.0% during the 2nd quarter. Advisor Group Inc. now owns 4,247 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 523 shares in the last quarter. Stifel Financial Corp raised its stake in shares of East West Bancorp by 4.1% during the 2nd quarter. Stifel Financial Corp now owns 16,173 shares of the financial services provider’s stock worth $945,000 after purchasing an additional 633 shares in the last quarter. Royal Bank of Canada raised its stake in shares of East West Bancorp by 156.1% during the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock worth $4,260,000 after purchasing an additional 44,336 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of East West Bancorp by 18.5% during the 2nd quarter. Janus Henderson Group PLC now owns 589,479 shares of the financial services provider’s stock worth $34,531,000 after purchasing an additional 92,228 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in shares of East West Bancorp by 25.1% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 30,331 shares of the financial services provider’s stock worth $1,776,000 after purchasing an additional 6,079 shares in the last quarter. 90.90% of the stock is owned by institutional investors.

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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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