East West Bancorp (EWBC) Receiving Somewhat Favorable Media Coverage, Report Finds
News stories about East West Bancorp (NASDAQ:EWBC) have been trending somewhat positive this week, according to Accern Sentiment. The research firm scores the sentiment of press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. East West Bancorp earned a media sentiment score of 0.09 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.2205864023273 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- Bank Deregulation Has 80% Likelihood Of Passage, Says Height Capital (finance.yahoo.com)
- East West Bancorp, Inc. (EWBC) CFO Sells $341,450.00 in Stock (americanbankingnews.com)
- Form 4 EAST WEST BANCORP INC For: Mar 07 Filed by: Oh Irene H (streetinsider.com)
- Does East West Bancorp Inc’s (NASDAQ:EWBC) 17.13% Earnings Growth Reflect The Long-Term Trend? (finance.yahoo.com)
- Zacks: Analysts Anticipate East West Bancorp, Inc. (EWBC) Will Post Quarterly Sales of $364.81 Million (americanbankingnews.com)
Shares of East West Bancorp (NASDAQ EWBC) traded down $0.09 during midday trading on Wednesday, hitting $66.60. 87,702 shares of the stock were exchanged, compared to its average volume of 868,438. East West Bancorp has a 1-year low of $48.07 and a 1-year high of $69.25. The firm has a market capitalization of $9,743.71, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a 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 23.12%.
Several research firms have recently commented on EWBC. Wells Fargo & Co restated an “outperform” rating and issued a $72.00 price target (up previously from $65.00) on shares of East West Bancorp in a report on Tuesday, January 9th. Morgan Stanley boosted their price objective on shares of East West Bancorp from $61.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Sandler O’Neill reiterated a “buy” rating and set a $76.00 price objective on shares of East West Bancorp in a research note on Friday, January 26th. Barclays upped their price target on shares of East West Bancorp from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $79.00 price target on shares of East West Bancorp in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $69.50.
In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.50, for a total transaction of $137,000.00. Following the sale, the director now owns 21,599 shares of the company’s stock, valued at $1,479,531.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the transaction, the insider now directly owns 18,015 shares in the company, valued at $1,103,598.90. The disclosure for this sale can be found here. In the last three months, insiders sold 14,000 shares of company stock valued at $918,130. Insiders own 0.88% of the company’s stock.
About East West Bancorp
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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