East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) Director Archana Deskus sold 1,800 shares of East West Bancorp stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $125.55, for a total value of $225,990.00. Following the transaction, the director owned 13,231 shares of the company's stock, valued at $1,661,152.05. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
East West Bancorp Price Performance
EWBC stock opened at $126.47 on Friday. The company has a market capitalization of $17.32 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a 52-week low of $85.02 and a 52-week high of $127.00. The business has a 50-day simple moving average of $112.48 and a two-hundred day simple moving average of $111.03.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.11. The business had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The company's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. Research analysts expect that East West Bancorp, Inc. will post 10.57 EPS for the current fiscal year.
East West Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 18th. Stockholders of record on Monday, May 4th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, May 4th. East West Bancorp's payout ratio is presently 31.97%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday. Morgan Stanley cut their target price on East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. TD Cowen boosted their target price on East West Bancorp from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. UBS Group boosted their target price on East West Bancorp from $125.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Finally, Barclays cut their target price on East West Bancorp from $150.00 to $142.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $132.36.
Check Out Our Latest Research Report on EWBC
Institutional Investors Weigh In On East West Bancorp
Hedge funds have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC bought a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp bought a new stake in shares of East West Bancorp in the 4th quarter worth approximately $31,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $31,000. Mather Group LLC. bought a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $38,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock worth $39,000 after purchasing an additional 113 shares during the period. Institutional investors own 89.53% of the company's stock.
About East West Bancorp
(
Get Free Report)
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
