East West Bancorp Inc. (NASDAQ: EWBC) stock jumped 1.62% on Tuesday to $50.72 against a previous-day closing price of $49.91. With 1.37 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.99 million shares. During the session, the Banks – Diversified company that operates in wider Financial sector, reached to the highest price of $52.14 whereas the lowest price it dropped to was $50.25. The 52-week range on EWBC shows that it touched its highest point at $80.98 and its lowest point at $33.86 during that stretch. It currently has a 1-year price target of $67.18. With its current market cap of 7.32 billion, EWBC has annualized dividend of $1.92 while the current yield stands at 3.79%. Beta for the stock currently stands at 1.39.
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EWBC was up-trending over the past week, with a rise of 9.50%, but this was down by -5.60% over a month. Three-month performance dropped to -33.07% while six-month performance fell -24.56%. The stock lost -26.39% in the past year, while it has lost -23.03% so far this year. A look at the trailing 12-month EPS for EWBC yields 8.54 with Next year EPS estimates of 8.38. For the next quarter, that number is 2.22. This implies an EPS growth rate of 29.80% for this year and -4.73% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 16.10%.
Float and Shares Shorts:
At present, 141.11 million EWBC shares are outstanding with a float of 139.79 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.02 million, which was 2.14% higher than short shares on Mar 30, 2023. In addition to Mr. Dominic Ng as the firm’s Chairman, Pres & CEO, Ms. Irene H. Oh serves as its Exec. VP & CFO.
Through their ownership of 90.80% of EWBC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.12% of EWBC, in contrast to 25.92% held by mutual funds. Shares owned by individuals account for 2.80%. As the largest shareholder in EWBC with 10.26% of the stake, The Vanguard Group, Inc. holds 14,471,823 shares worth 14,471,823. A second-largest stockholder of EWBC, Capital Research & Management Co, holds 12,194,615 shares, controlling over 8.65% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in EWBC, holding 11,929,063 shares or 8.46% stake. With a 3.49% stake in EWBC, the American Balanced Fund is the largest stakeholder. A total of 4,919,195 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.12% of EWBC stock, is the second-largest Mutual Fund holder. It holds 4,398,282 shares valued at 227.35 million. Vanguard Total Stock Market ETF holds 3.09% of the stake in EWBC, owning 4,357,535 shares worth 225.24 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EWBC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EWBC analysts setting a high price target of $81.00 and a low target of $54.00, the average target price over the next 12 months is $67.18. Based on these targets, EWBC could surge 59.7% to reach the target high and rise by 6.47% to reach the target low. Reaching the average price target will result in a growth of 32.45% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, EWBC has a current ratio of $1.92, which is $1.92 over the trailing 12-months, while a dividend of $1.18 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and EWBC currently yields $3.47. In the past year, EWBC’s dividend yield has been $3.47, but when looking at the stock over the past five years, its yield has been $2.14. Accordingly, EWBC has a current buyback yield of $1.7. This was $1.7 for the TTM, and it was $0.84 for the past five years.
Summary of Insider Activity:
Insiders traded EWBC stock several times over the past three months with 15 Buys and 5 Sells. In these transactions, 345,036 shares were bought while 134,609 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 363,254 while 141,809 shares were sold.