Key Points
- Insider sale: Vice Chairman Douglas Paul Krause sold 10,000 EWBC shares for approximately $1.32 million at $132.37 each, reducing his direct holdings by 21.29% to 36,974 shares.
- Strong quarterly performance: East West Bancorp reported $2.63 in quarterly EPS and $791.14 million in revenue, exceeding analyst estimates, while revenue rose 12.5% year over year.
- Positive outlook: Analysts maintain a “Moderate Buy” consensus with an average price target of $140.62, and the company announced a quarterly dividend of $0.80 per share, yielding about 2.4% annually.
East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) Vice Chairman Douglas Paul Krause sold 10,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the completion of the sale, the insider directly owned 36,974 shares of the company's stock, valued at $4,894,248.38. This represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Douglas Paul Krause also recently made the following trade(s):
- On Wednesday, May 27th, Douglas Paul Krause sold 10,000 shares of East West Bancorp stock. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00.
East West Bancorp Stock Down 1.0%
Shares of EWBC opened at $131.88 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $136.24. The firm's 50 day moving average is $129.74 and its 200-day moving average is $120.53. The stock has a market capitalization of $18.07 billion, a PE ratio of 12.68, a P/E/G ratio of 1.55 and a beta of 0.94.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.02. The business had revenue of $791.14 million during the quarter, compared to analysts' expectations of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.24 earnings per share. Equities research analysts forecast that East West Bancorp, Inc. will post 10.59 EPS for the current year.
East West Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.20 annualized dividend and a yield of 2.4%. East West Bancorp's payout ratio is currently 30.77%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Barclays upped their target price on East West Bancorp from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group boosted their price target on East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. DA Davidson upped their price objective on shares of East West Bancorp from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. 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. Finally, Wells Fargo & Company raised their target price on shares of East West Bancorp from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.62.
View Our Latest Report on East West Bancorp
Institutional Investors Weigh In On East West Bancorp
A number of large investors have recently modified their holdings of the business. Oak Thistle LLC bought a new stake in shares of East West Bancorp during the fourth quarter worth $1,530,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of East West Bancorp by 84,090.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock worth $596,967,000 after buying an additional 5,305,257 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of East West Bancorp by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider's stock valued at $319,523,000 after acquiring an additional 27,402 shares during the last quarter. Mach 1 Financial Group LLC acquired a new stake in shares of East West Bancorp during the 4th quarter valued at $1,044,000. Finally, New York Life Investment Management LLC acquired a new stake in shares of East West Bancorp during the 4th quarter valued at $1,387,000. Institutional investors and hedge funds 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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