Parker Shi Sells 8,844 Shares of East West Bancorp (NASDAQ:EWBC) Stock

by · The Cerbat Gem

East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) COO Parker Shi sold 8,844 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $115.03, for a total value of $1,017,325.32. Following the completion of the transaction, the chief operating officer owned 14,950 shares of the company’s stock, valued at $1,719,698.50. This represents a 37.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $113.62 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $116.50. The company’s 50 day moving average price is $104.11 and its two-hundred day moving average price is $103.03. The company has a market capitalization of $15.63 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92.

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

East West Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Cowen assumed coverage on East West Bancorp in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Zacks Research upgraded East West Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. UBS Group reduced their price target on East West Bancorp from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 28th. Barclays raised their price target on shares of East West Bancorp from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Truist Financial boosted their price objective on shares of East West Bancorp from $112.00 to $116.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. 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’s stock. Based on data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Get Our Latest Analysis on East West Bancorp

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in shares of East West Bancorp by 38.5% in the 2nd quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider’s stock valued at $1,078,807,000 after purchasing an additional 2,968,716 shares during the period. Norges Bank acquired a new position in East West Bancorp during the second quarter worth approximately $174,431,000. Earnest Partners LLC bought a new stake in East West Bancorp in the first quarter valued at approximately $137,390,000. Nuveen LLC acquired a new stake in shares of East West Bancorp in the first quarter valued at approximately $83,330,000. Finally, Boston Partners boosted its stake in shares of East West Bancorp by 39.6% during the 2nd quarter. Boston Partners now owns 3,241,088 shares of the financial services provider’s stock worth $327,271,000 after acquiring an additional 920,159 shares during the period. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Company Profile

(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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