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 completion of the sale, the insider owned 85,498 shares of the company’s stock, valued at approximately $11,328,485. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
East West Bancorp Stock Up 1.9%
Shares of NASDAQ EWBC opened at $132.63 on Friday. East West Bancorp, Inc. has a 12-month low of $90.79 and a 12-month high of $132.88. The company has a market cap of $18.17 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.63 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $121.33 and a 200 day moving average price of $115.59.
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 (EPS) 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 during the quarter, compared to the consensus estimate of $767.80 million. During the same period in the prior year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts anticipate that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.
East West Bancorp Dividend Announcement
Hedge Funds Weigh In On East West Bancorp
Large investors have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC bought a new position in shares of East West Bancorp during the third quarter worth about $26,000. Atlantic Union Bankshares Corp bought a new position in shares of East West Bancorp during the fourth quarter worth about $31,000. Kelleher Financial Advisors bought a new position in shares of East West Bancorp during the third quarter worth about $31,000. Signaturefd LLC lifted its position in shares of East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.
Analyst Ratings Changes
EWBC has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 price target on shares of East West Bancorp in a report on Wednesday, April 22nd. Barclays lowered their price target on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. DA Davidson increased their price target on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Truist Financial upped their price objective on shares of East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. Finally, Piper Sandler upped their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.69.
Check Out Our Latest Analysis on EWBC
About East West Bancorp
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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