East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.55 per share by the financial services provider on Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, November 4th.
East West Bancorp has increased its dividend by an average of 20.4% annually over the last three years. East West Bancorp has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect East West Bancorp to earn $8.50 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 25.9%.
Shares of EWBC opened at $95.63 on Thursday. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.08 and a beta of 1.29. East West Bancorp has a 12 month low of $51.40 and a 12 month high of $98.95. The firm has a fifty day simple moving average of $83.31 and a 200 day simple moving average of $78.36. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same quarter in the previous year, the firm earned $2.02 EPS. Research analysts forecast that East West Bancorp will post 8.2 EPS for the current fiscal year.
Several equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday. Truist Financial upped their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a research note on Wednesday. DA Davidson boosted their price objective on East West Bancorp from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays upped their target price on East West Bancorp from $108.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Stephens lifted their price target on East West Bancorp from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.08.
Get Our Latest Report on EWBC
In related news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now owns 18,470 shares of the company's stock, valued at $1,621,111.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company's stock, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is currently owned by insiders.
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.
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