East West Bancorp (NASDAQ:EWBC) CEO Sells $5,891,000.00 in Stock

by · The Markets Daily

East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) CEO Dominic Ng sold 50,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $117.82, for a total value of $5,891,000.00. Following the sale, the chief executive officer owned 808,331 shares in the company, valued at $95,237,558.42. The trade was a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Dominic Ng also recently made the following trade(s):

  • On Friday, December 12th, Dominic Ng sold 30,000 shares of East West Bancorp stock. The stock was sold at an average price of $113.63, for a total transaction of $3,408,900.00.

East West Bancorp Trading Up 2.6%

EWBC stock traded up $2.93 during mid-day trading on Wednesday, reaching $117.66. 828,449 shares of the stock traded hands, compared to its average volume of 1,209,850. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $119.73. The stock has a market capitalization of $16.19 billion, a PE ratio of 12.36, a PEG ratio of 1.49 and a beta of 0.92. The business has a 50-day moving average price of $113.72 and a two-hundred day moving average price of $107.25.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its earnings results on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.04. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. The firm had revenue of $754.92 million during the quarter, compared to analyst estimates of $745.04 million. During the same quarter last year, the business earned $2.10 EPS. Equities research analysts expect that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This is an increase from East West Bancorp’s previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 2.7%. East West Bancorp’s payout ratio is 33.61%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EWBC. UBS Group set a $125.00 price target on East West Bancorp in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on East West Bancorp in a research report on Tuesday, December 16th. They issued a “buy” rating and a $133.00 price objective on the stock. Truist Financial set a $121.00 target price on East West Bancorp in a research note on Friday, January 23rd. Barclays lifted their target price on East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.14.

Get Our Latest Stock Report on East West Bancorp

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in East West Bancorp by 38.5% in the second quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider’s stock worth $1,078,807,000 after purchasing an additional 2,968,716 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of East West Bancorp by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,819,273 shares of the financial services provider’s stock worth $486,650,000 after buying an additional 86,171 shares during the last quarter. First Trust Advisors LP raised its stake in shares of East West Bancorp by 0.5% during the 3rd quarter. First Trust Advisors LP now owns 4,313,856 shares of the financial services provider’s stock worth $459,210,000 after acquiring an additional 19,539 shares in the last quarter. Boston Partners lifted its position in East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock valued at $412,464,000 after acquiring an additional 633,649 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in East West Bancorp by 10.9% in the third quarter. Schroder Investment Management Group now owns 3,395,376 shares of the financial services provider’s stock valued at $361,879,000 after acquiring an additional 334,429 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

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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