East West Bancorp (NASDAQ:EWBC) Director Sells 1,800 Shares

by · The Markets Daily

East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) Director Molly Campbell sold 1,800 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $122.81, for a total transaction of $221,058.00. Following the transaction, the director owned 5,756 shares in the company, valued at $706,894.36. The trade was a 23.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Molly Campbell also recently made the following trade(s):

  • On Monday, November 24th, Molly Campbell sold 1,520 shares of East West Bancorp stock. The stock was sold at an average price of $104.73, for a total transaction of $159,189.60.
  • On Tuesday, November 11th, Molly Campbell sold 1,000 shares of East West Bancorp stock. The shares were sold at an average price of $105.40, for a total transaction of $105,400.00.

East West Bancorp Stock Up 3.4%

Shares of EWBC stock traded up $4.04 on Friday, reaching $122.50. 1,140,774 shares of the company were exchanged, compared to its average volume of 1,175,671. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50-day moving average of $113.95 and a 200-day moving average of $107.32. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.53 and a beta of 0.92. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $123.22.

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

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.80 per share. This is a boost from East West Bancorp’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, February 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. East West Bancorp’s dividend payout ratio (DPR) is presently 33.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EWBC. Keefe, Bruyette & Woods lifted their price objective on shares of East West Bancorp from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of East West Bancorp in a research report on Tuesday, December 16th. They issued a “buy” rating and a $133.00 price target on the stock. TD Cowen decreased their price objective on East West Bancorp from $141.00 to $140.00 and set a “buy” rating for the company in a report on Monday, January 26th. Barclays raised their target price on East West Bancorp from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Finally, Piper Sandler lifted their target price on East West Bancorp from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.14.

Check Out Our Latest Research Report on EWBC

Institutional Trading of East West Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 acquiring an additional 5,305,257 shares during the period. Invesco Ltd. raised its stake in shares of East West Bancorp by 38.5% during the 2nd 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 during the period. Norges Bank purchased a new position in shares of East West Bancorp in the 2nd quarter worth about $174,431,000. Boston Partners grew its position in East West Bancorp by 39.6% during the second quarter. Boston Partners now owns 3,241,088 shares of the financial services provider’s stock valued at $327,271,000 after buying an additional 920,159 shares during the period. Finally, Sei Investments Co. increased its holdings in East West Bancorp by 448.5% during the second quarter. Sei Investments Co. now owns 840,371 shares of the financial services provider’s stock worth $84,861,000 after buying an additional 687,145 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other 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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