East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s 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 directly owned 46,974 shares in the company, valued at approximately $5,801,289. This trade represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
East West Bancorp Price Performance
NASDAQ EWBC opened at $122.54 on Friday. The company has a market cap of $16.79 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97. East West Bancorp, Inc. has a 52 week low of $88.97 and a 52 week high of $127.51. 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 firm’s 50-day simple moving average is $117.24 and its two-hundred day simple moving average is $113.98.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $767.80 million. During the same period in the prior year, the business posted $2.08 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. Research analysts predict that East West Bancorp, Inc. will post 10.6 earnings per share for the current year.
East West Bancorp Announces Dividend
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Piper Sandler increased their price objective on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Morgan Stanley dropped their price objective on 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. Cantor Fitzgerald reissued an “overweight” rating and set a $133.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 22nd. Finally, Truist Financial increased their price objective on East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.69.
Read Our Latest Stock Report on EWBC
Institutional Trading of East West Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its holdings in East West Bancorp by 1.8% in the third quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 102 shares during the period. Quarry LP grew its holdings in East West Bancorp by 35.4% in the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 102 shares during the period. Bradley Foster & Sargent Inc. CT boosted its stake in shares of East West Bancorp by 1.1% in 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 acquiring an additional 102 shares during the last quarter. Swiss Life Asset Management Ltd boosted its stake in shares of East West Bancorp by 1.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of East West Bancorp by 4.3% in the third quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $277,000 after acquiring 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
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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