Key Points
- Insider sale: East West Bancorp insider Irene Oh sold 800 shares on June 15 at an average price of $133.19, totaling about $106,552. After the sale, she still owned 84,698 shares.
- Stock and valuation: EWBC was down 0.5% and opened at $130.61, near its 52-week high of $136.00. The bank’s market cap is about $17.89 billion, with a P/E ratio of 13.05.
- Fundamentals and outlook: The company recently beat quarterly earnings estimates, reporting $2.57 EPS versus $2.46 expected, while revenue rose 11.8% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $133.69.
East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) insider Irene Oh sold 800 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $133.19, for a total value of $106,552.00. Following the completion of the sale, the insider owned 84,698 shares of the company's stock, valued at approximately $11,280,926.62. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
East West Bancorp Stock Down 0.5%
EWBC opened at $130.61 on Wednesday. The business has a 50 day moving average price of $122.21 and a 200 day moving average price of $116.01. East West Bancorp, Inc. has a twelve month low of $90.79 and a twelve month high of $136.00. 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 $17.89 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share 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 firm had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. During the same period in the previous year, the company earned $2.08 EPS. The company's revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts forecast that East West Bancorp, Inc. will post 10.6 EPS for the current year.
East West Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp's payout ratio is currently 31.97%.
Institutional Trading of East West Bancorp
Large investors have recently bought and sold shares of the stock. Foster Dykema Cabot & Partners LLC bought a new stake in East West Bancorp in the third quarter valued at $26,000. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp in the fourth quarter valued at $31,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the third quarter valued at $31,000. Signaturefd LLC grew its position in East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 184 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 113 shares during the period. 89.53% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on EWBC. DA Davidson lifted their price target on East West Bancorp from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price objective on shares of East West Bancorp in a research report on Wednesday, April 22nd. Piper Sandler boosted their price objective on East West Bancorp from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. UBS Group boosted their price objective on East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Finally, Citigroup boosted their price objective on East West Bancorp from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.69.
Read Our Latest Analysis on East West Bancorp
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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