Key Points
- East West Bancorp Vice Chairman Douglas Paul Krause sold 10,000 shares on May 27 at an average price of $123.50, generating about $1.235 million. After the sale, he still held 46,974 shares, a 17.55% reduction in his stake.
- The stock was trading down 1.0% around $123.48, near its 52-week high of $127.51. East West Bancorp also has a market cap of about $16.92 billion and a P/E ratio of 12.34.
- The company recently reported strong quarterly results, with EPS of $2.57 beating estimates and revenue rising 11.8% year over year. It also paid a quarterly dividend of $0.80, implying an annualized yield of about 2.6%.
East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the sale, the insider owned 46,974 shares of the company's stock, valued at approximately $5,801,289. This represents a 17.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
East West Bancorp Trading Down 1.0%
NASDAQ EWBC opened at $123.48 on Thursday. The firm has a 50 day simple moving average of $116.51 and a 200-day simple moving average of $113.78. 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 one year low of $88.97 and a one year high of $127.51. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.53 and a beta of 0.97.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The business had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. During the same quarter last year, the firm posted $2.08 earnings per share. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts anticipate that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.
East West Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. East West Bancorp's dividend payout ratio (DPR) is presently 31.97%.
Analyst Ratings Changes
Several research firms have recently commented on EWBC. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 22nd. Truist Financial raised their price objective on shares of East West Bancorp from $120.00 to $128.00 and gave the company a "hold" rating in a research note on Thursday, April 23rd. DA Davidson raised their price objective on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Morgan Stanley decreased their price target on shares of East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Finally, Barclays decreased their price target on shares of East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $133.69.
Get Our Latest Stock Report on East West Bancorp
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider's stock worth $42,000 after buying an additional 102 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of East West Bancorp by 1.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider's stock worth $604,000 after buying an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in shares of East West Bancorp by 1.1% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider's stock worth $1,033,000 after buying an additional 102 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of East West Bancorp by 1.7% during the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider's stock worth $720,000 after buying an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of East West Bancorp by 4.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider's stock worth $277,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.
East West Bancorp Company Profile
(
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.
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