Insider Selling: East West Bancorp (NASDAQ:EWBC) CEO Sells 30,000 Shares of Stock

by · The Cerbat Gem

East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction on Friday, December 12th. The shares were sold at an average price of $113.63, for a total value of $3,408,900.00. Following the transaction, the chief executive officer owned 858,314 shares in the company, valued at approximately $97,530,219.82. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

East West Bancorp Price Performance

Shares of NASDAQ EWBC traded down $1.19 during midday trading on Friday, reaching $113.62. The company’s stock had a trading volume of 551,178 shares, compared to its average volume of 470,199. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $116.50. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92. The company has a 50 day moving average price of $104.11 and a 200 day moving average price of $103.03. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35.

East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. The business had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%. On average, equities research analysts expect that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, November 3rd. East West Bancorp’s dividend payout ratio is currently 26.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EWBC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of East West Bancorp in a research report on Monday. UBS Group cut their price target on shares of East West Bancorp from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Citigroup upped their price objective on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Morgan Stanley increased their target price on shares of East West Bancorp from $111.00 to $126.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Finally, Zacks Research raised East West Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Read Our Latest Research Report on East West Bancorp

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EWBC. Deutsche Bank AG grew its stake in East West Bancorp by 16.5% during the first quarter. Deutsche Bank AG now owns 21,516 shares of the financial services provider’s stock worth $1,931,000 after buying an additional 3,052 shares during the last quarter. National Bank of Canada FI grew its position in East West Bancorp by 46.7% during the 1st quarter. National Bank of Canada FI now owns 50,411 shares of the financial services provider’s stock worth $4,525,000 after acquiring an additional 16,040 shares during the last quarter. Townsquare Capital LLC increased its holdings in East West Bancorp by 34.7% during the 1st quarter. Townsquare Capital LLC now owns 4,430 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 1,140 shares in the last quarter. HighTower Advisors LLC raised its position in East West Bancorp by 17.6% in the 1st quarter. HighTower Advisors LLC now owns 13,226 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 1,982 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in East West Bancorp in the first quarter worth $206,000. 89.53% of the stock is owned by institutional investors.

About East West Bancorp

(Get Free Report)

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.

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