Key Points
- Insider Irene Oh sold 12,547 shares on Dec. 17 at an average price of $115, generating about $1.44M and reducing her position by 11.87% to 93,167 shares, per an SEC filing.
- East West reported $2.08 EPS and $627.36M in quarterly revenue with a 15.55% ROE, analysts forecast roughly 8.85 EPS for the year, and the stock trades near its 12‑month high (~$116.50) with a P/E of 12.74.
- The company pays a $0.60 quarterly dividend (annualized $2.40, a 2.1% yield) and carries a MarketBeat consensus of Moderate Buy with a consensus price target of $124.69.
East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) insider Irene Oh sold 12,547 shares of the firm's stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $115.00, for a total transaction of $1,442,905.00. Following the completion of the sale, the insider owned 93,167 shares in the company, valued at $10,714,205. The trade was a 11.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
East West Bancorp Trading Up 1.1%
Shares of NASDAQ:EWBC opened at $115.74 on Thursday. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $116.50. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35. The firm has a market cap of $15.92 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a 50 day moving average of $104.56 and a 200-day moving average of $103.57.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%.The firm had revenue of $627.36 million during the quarter. As a group, analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal 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 issued a $0.60 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. East West Bancorp's dividend payout ratio is presently 26.46%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its holdings in shares of East West Bancorp by 880.7% in the second quarter. US Bancorp DE now owns 21,625 shares of the financial services provider's stock valued at $2,184,000 after buying an additional 19,420 shares during the last quarter. Deutsche Bank AG raised its stake in shares of East West Bancorp by 16.5% in the first quarter. Deutsche Bank AG now owns 21,516 shares of the financial services provider's stock worth $1,931,000 after acquiring an additional 3,052 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of East West Bancorp during the first quarter worth approximately $2,187,000. First Citizens Bank & Trust Co. increased its holdings in shares of East West Bancorp by 249.8% in the second quarter. First Citizens Bank & Trust Co. now owns 13,111 shares of the financial services provider's stock valued at $1,324,000 after purchasing an additional 9,363 shares in the last quarter. Finally, Aurora Investment Counsel bought a new position in East West Bancorp in the 2nd quarter worth approximately $2,029,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on EWBC. Barclays raised their target price on East West Bancorp from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. TD Cowen began coverage on East West Bancorp in a research note on Thursday, September 25th. They set a "buy" rating and a $139.00 target price on the stock. Citigroup boosted their price target on East West Bancorp from $124.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Truist Financial lifted their target price on shares of East West Bancorp from $112.00 to $116.00 and gave the company a "hold" rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.69.
Read Our Latest Analysis on EWBC
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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