Jack C. Liu Sells 2,000 Shares of East West Bancorp, Inc. (NASDAQ:EWBC) Stock

East West Bancorp, Inc. (NASDAQ:EWBCGet Free Report) Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

East West Bancorp Trading Down 1.0 %

Shares of EWBC stock opened at $72.16 on Friday. East West Bancorp, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $76.88. The stock has a market cap of $10.17 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.91 and a beta of 1.40. The business has a fifty day simple moving average of $71.86 and a 200-day simple moving average of $62.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The business had revenue of $654.70 million during the quarter, compared to analysts’ expectations of $641.91 million. During the same quarter last year, the business posted $2.37 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts forecast that East West Bancorp, Inc. will post 7.9 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, February 2nd were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, February 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.48. East West Bancorp’s dividend payout ratio (DPR) is presently 26.89%.

Analyst Upgrades and Downgrades

EWBC has been the subject of several analyst reports. Morgan Stanley upped their price target on East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Citigroup cut their price target on East West Bancorp from $89.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Piper Sandler upped their price target on East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wedbush restated an “outperform” rating and set a $86.00 price target on shares of East West Bancorp in a research note on Wednesday, January 24th. Finally, Stephens initiated coverage on East West Bancorp in a research note on Friday, December 8th. They set an “overweight” rating and a $79.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and an average target price of $77.08.

Get Our Latest Stock Analysis on EWBC

Institutional Trading of East West Bancorp

Large investors have recently made changes to their positions in the stock. Denali Advisors LLC boosted its stake in shares of East West Bancorp by 66.7% during the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of East West Bancorp by 65.1% during the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of East West Bancorp during the fourth quarter valued at $40,000. EverSource Wealth Advisors LLC boosted its stake in shares of East West Bancorp by 52.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 666 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 230 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of East West Bancorp by 1,050.0% during the fourth quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 609 shares during the last quarter. Institutional investors and hedge funds own 87.11% of the company’s stock.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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Insider Buying and Selling by Quarter for East West Bancorp (NASDAQ:EWBC)

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