Key Points
- COO Parker Shi sold 8,844 shares of EWBC at an average price of $115.03 for roughly $1.02M, reducing his direct stake by 37.17% to 14,950 shares, according to an SEC filing.
- East West Bancorp reported quarterly EPS of $2.08 on $627.36M in revenue; the stock trades near its one‑year high with a market cap of $15.8B and a P/E of 12.66, and analysts hold a consensus "Moderate Buy" with a $124 target.
- The bank pays a quarterly dividend of $0.60 ($2.40 annualized) for a ~2.1% yield, and institutional investors own about 89.5% of the shares.
East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) COO Parker Shi sold 8,844 shares of East West Bancorp stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $115.03, for a total value of $1,017,325.32. Following the completion of the transaction, the chief operating officer directly owned 14,950 shares in the company, valued at $1,719,698.50. This represents a 37.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
East West Bancorp Price Performance
EWBC stock opened at $114.81 on Friday. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $116.50. The firm has a 50-day moving average of $103.97 and a two-hundred day moving average of $102.86. The firm has a market capitalization of $15.80 billion, a PE ratio of 12.66, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The business had revenue of $627.36 million for the quarter. On average, analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.
East West Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, November 3rd. East West Bancorp's dividend payout ratio (DPR) is 26.46%.
Hedge Funds Weigh In On East West Bancorp
A number of hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in East West Bancorp by 29.0% during the third quarter. Allworth Financial LP now owns 899 shares of the financial services provider's stock valued at $96,000 after acquiring an additional 202 shares in the last quarter. IFP Advisors Inc increased its stake in shares of East West Bancorp by 176.0% during the 3rd quarter. IFP Advisors Inc now owns 1,932 shares of the financial services provider's stock worth $216,000 after purchasing an additional 1,232 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of East West Bancorp by 76.4% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,300 shares of the financial services provider's stock valued at $671,000 after purchasing an additional 2,729 shares in the last quarter. Polar Asset Management Partners Inc. lifted its stake in shares of East West Bancorp by 108.8% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 22,137 shares of the financial services provider's stock valued at $2,356,000 after purchasing an additional 11,537 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in East West Bancorp by 51.9% in the third quarter. CIBC Private Wealth Group LLC now owns 1,378 shares of the financial services provider's stock worth $147,000 after purchasing an additional 471 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on EWBC shares. TD Cowen initiated coverage on East West Bancorp in a research report on Thursday, September 25th. They set a "buy" rating and a $139.00 price target on the stock. Piper Sandler upped their target price on East West Bancorp from $100.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, September 8th. Wall Street Zen raised shares of East West Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. Barclays raised their price target on shares of East West Bancorp from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of East West Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.
View Our Latest Analysis on EWBC
East West Bancorp Company Profile
(
Get Free Report)
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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