East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) insider Irene Oh sold 11,211 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the completion of the transaction, the insider directly owned 85,998 shares of the company's stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
East West Bancorp Price Performance
Shares of NASDAQ:EWBC opened at $130.18 on Friday. East West Bancorp, Inc. has a fifty-two week low of $90.79 and a fifty-two week high of $130.54. The business has a 50-day simple moving average of $120.86 and a two-hundred day simple moving average of $115.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $773.75 million for the quarter, compared to analysts' expectations of $767.80 million. During the same quarter last year, the company posted $2.08 earnings per share. The firm's quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts expect that East West Bancorp, Inc. will post 10.6 earnings per share for the current year.
East West Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were 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 was Monday, May 4th. East West Bancorp's dividend payout ratio (DPR) is 31.97%.
Wall Street Analysts Forecast Growth
EWBC has been the topic of a number of research reports. UBS Group raised their price target 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. TD Cowen raised their price target 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. DA Davidson raised their price target on East West Bancorp from $135.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 22nd. Finally, Piper Sandler increased their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $133.69.
Check Out Our Latest Stock Report on EWBC
Hedge Funds Weigh In On East West Bancorp
Several institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of East West Bancorp by 84,090.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock worth $596,967,000 after purchasing an additional 5,305,257 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in East West Bancorp by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider's stock worth $559,822,000 after acquiring an additional 106,998 shares in the last quarter. First Trust Advisors LP increased its holdings in East West Bancorp by 7.1% in the 4th quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider's stock worth $519,329,000 after acquiring an additional 306,916 shares in the last quarter. Boston Partners increased its holdings in East West Bancorp by 19.6% in the 3rd quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock worth $412,464,000 after acquiring an additional 633,649 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in East West Bancorp by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider's stock worth $423,619,000 after acquiring an additional 318,303 shares in the last quarter. 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.
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