Insider Selling: East West Bancorp (NASDAQ:EWBC) CEO Sells 30,000 Shares of Stock

Key Points

  • CEO Dominic Ng sold 30,000 shares on Dec. 12 at an average price of $113.63 for a total of $3,408,900, trimming his stake by 3.38% to 858,314 shares — the transaction is disclosed in an SEC filing.
  • East West Bancorp recently reported quarterly EPS of $2.08 on $627.36 million in revenue, trades around $113.62 with a market cap of $15.63 billion and a P/E of 12.53, and carries a consensus analyst rating of "Moderate Buy" with a $124 average price target.
  • The company pays a quarterly dividend of $0.60 ($2.40 annualized, ~2.1% yield) with a 26.46% payout ratio, and institutional investors own about 89.5% of the shares with several funds recently increasing positions.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) CEO Dominic Ng sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $113.63, for a total transaction of $3,408,900.00. Following the completion of the sale, the chief executive officer owned 858,314 shares in the company, valued at $97,530,219.82. This represents a 3.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

East West Bancorp Price Performance

Shares of EWBC opened at $113.62 on Friday. The firm has a fifty day simple moving average of $104.11 and a two-hundred day simple moving average of $103.03. The firm has a market cap of $15.63 billion, a PE ratio of 12.53, 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, Inc. has a 1-year low of $68.27 and a 1-year high of $116.50.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. The company had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%. On average, equities analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement




The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, November 3rd. East West Bancorp's payout ratio is currently 26.46%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of East West Bancorp in a report on Monday. 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. Barclays boosted their price objective on shares of East West Bancorp from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Finally, TD Cowen began coverage on East West Bancorp in a report on Thursday, September 25th. They issued a "buy" rating and a $139.00 target price on the stock. 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $124.00.

View Our Latest Report on EWBC

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its position in East West Bancorp by 29.0% in the third quarter. Allworth Financial LP now owns 899 shares of the financial services provider's stock worth $96,000 after purchasing an additional 202 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of East West Bancorp by 176.0% in 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 period. Swiss Life Asset Management Ltd increased its position 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 during the last quarter. Polar Asset Management Partners Inc. raised its holdings in East West Bancorp by 108.8% during 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 buying an additional 11,537 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position 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 buying an additional 471 shares during the last quarter. Institutional investors own 89.53% of the company's stock.

About East West Bancorp

(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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