Fintel reports that on December 1, 2023, Citigroup initiated coverage of East West Bancorp (NASDAQ:EWBC) with a Buy recommendation.
Analyst Price Forecast Suggests 6.44% Upside
As of November 27, 2023, the average one-year price target for East West Bancorp is 69.91. The forecasts range from a low of 60.60 to a high of $79.80. The average price target represents an increase of 6.44% from its latest reported closing price of 65.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for East West Bancorp is 2,424MM, an increase of 4.04%. The projected annual non-GAAP EPS is 8.96.
East West Bancorp Declares $0.48 Dividend
On October 19, 2023 the company declared a regular quarterly dividend of $0.48 per share ($1.92 annualized). Shareholders of record as of November 1, 2023 received the payment on November 15, 2023. Previously, the company paid $0.48 per share.
At the current share price of $65.68 / share, the stock's dividend yield is 2.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.48%, the lowest has been 1.51%, and the highest has been 4.33%. The standard deviation of yields is 0.68 (n=236).
The current dividend yield is 0.65 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.21. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.75%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 929 funds or institutions reporting positions in East West Bancorp. This is an increase of 6 owner(s) or 0.65% in the last quarter. Average portfolio weight of all funds dedicated to EWBC is 0.24%, an increase of 6.78%. Total shares owned by institutions increased in the last three months by 0.72% to 153,807K shares. 
The put/call ratio of EWBC is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 11,422K shares representing 8.10% ownership of the company. In it's prior filing, the firm reported owning 11,435K shares, representing a decrease of 0.11%. The firm increased its portfolio allocation in EWBC by 4.90% over the last quarter.
ABALX - AMERICAN BALANCED FUND holds 4,536K shares representing 3.22% ownership of the company. No change in the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,422K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 4,291K shares, representing an increase of 2.96%. The firm increased its portfolio allocation in EWBC by 0.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,388K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 4,385K shares, representing an increase of 0.07%. The firm increased its portfolio allocation in EWBC by 3.71% over the last quarter.
T. Rowe Price Investment Management holds 3,673K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 3,725K shares, representing a decrease of 1.43%. The firm increased its portfolio allocation in EWBC by 2.16% over the last quarter.
East West Bancorp Background Information
(This description is provided by the company.)
East West Bancorp, Inc. is a publicly owned company with total assets of $52.2 billion. The Company's wholly owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California, operating over 120 locations in the United States and Greater China. U.S. markets include 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, and Xiamen.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
