Key Points
- Insider sale: East West Bancorp insider Irene Oh sold 500 shares on June 12 at an average price of $132.50, totaling $66,250. After the sale, she still held 85,498 shares, a 0.58% reduction in her position.
- Strong recent financial results: The company recently reported quarterly EPS of $2.57, beating analyst expectations of $2.46, with revenue of $773.75 million, up 11.8% year over year. Analysts currently expect full-year EPS of 10.6.
- Dividend and stock outlook: East West Bancorp paid a quarterly dividend of $0.80, or $3.20 annualized, yielding about 2.4%. The stock has a consensus analyst rating of Moderate Buy with a price target of $133.69.
East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) insider Irene Oh sold 500 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $132.50, for a total value of $66,250.00. Following the sale, the insider owned 85,498 shares in the company, valued at approximately $11,328,485. This trade represents a 0.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
East West Bancorp Price Performance
EWBC stock opened at $132.63 on Friday. East West Bancorp, Inc. has a 52-week low of $90.79 and a 52-week high of $132.88. The stock's fifty day simple moving average is $121.33 and its 200-day simple moving average is $115.59. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $18.17 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.60 and a beta of 0.94.
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The business had revenue of $773.75 million for the quarter, compared to analysts' expectations of $767.80 million. During the same quarter last year, the firm earned $2.08 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that East West Bancorp, Inc. will post 10.6 EPS for the current year.
East West Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were issued a $0.80 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. East West Bancorp's dividend payout ratio (DPR) is presently 31.97%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on EWBC shares. Truist Financial lifted their target price on East West Bancorp from $120.00 to $128.00 and gave the company a "hold" rating in a report on Thursday, April 23rd. TD Cowen lifted their target price on East West Bancorp from $137.00 to $143.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Morgan Stanley reduced their target price on East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Barclays reduced their target price on East West Bancorp from $150.00 to $142.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Finally, UBS Group lifted their target price on East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.69.
Get Our Latest Research Report on EWBC
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP lifted its stake in shares of East West Bancorp by 35.4% during the third quarter. Quarry LP now owns 390 shares of the financial services provider's stock worth $42,000 after purchasing an additional 102 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of East West Bancorp by 1.8% during the third quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider's stock worth $604,000 after purchasing an additional 102 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of East West Bancorp by 1.1% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider's stock worth $1,033,000 after purchasing an additional 102 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of East West Bancorp by 1.7% during the fourth quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider's stock worth $720,000 after purchasing an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of East West Bancorp by 4.3% during the third quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider's stock worth $277,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds 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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