East West Bancorp, Inc. (NASDAQ:EWBC) Insider Sells $985,000.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the sale, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $97.35 on Friday. The business’s 50-day moving average price is $85.59 and its 200 day moving average price is $79.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a twelve month low of $54.23 and a twelve month high of $101.31. The company has a market capitalization of $13.49 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.89 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same period in the prior year, the firm posted $2.02 EPS. On average, research analysts predict that East West Bancorp, Inc. will post 8.31 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.26%. East West Bancorp’s dividend payout ratio is presently 27.78%.

Institutional Trading of East West Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in East West Bancorp during the third quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $30,000. UMB Bank n.a. increased its position in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. American Capital Advisory LLC purchased a new position in East West Bancorp in the second quarter valued at approximately $31,000. Finally, Signaturefd LLC lifted its position in East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after buying an additional 446 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EWBC has been the subject of several research reports. Barclays lifted their price target on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Truist Financial upped their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Piper Sandler upped their target price on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson increased their target price on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.46.

About East West Bancorp

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.