East West Bancorp, Inc. (NASDAQ:EWBC) EVP Sells $472,080.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

East West Bancorp Price Performance

EWBC opened at $79.49 on Monday. The firm has a market capitalization of $11.06 billion, a P/E ratio of 10.01, a PEG ratio of 2.84 and a beta of 1.32. The stock has a fifty day moving average of $75.54 and a 200-day moving average of $74.83. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp, Inc. has a 12-month low of $49.59 and a 12-month high of $89.75.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. During the same period in the prior year, the business earned $2.20 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. Equities analysts forecast that East West Bancorp, Inc. will post 8.15 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.77%. East West Bancorp’s dividend payout ratio is presently 27.71%.

Institutional Investors Weigh In On East West Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its holdings in shares of East West Bancorp by 1.4% during the fourth quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock worth $833,469,000 after acquiring an additional 159,963 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of East West Bancorp in the 1st quarter valued at $338,142,000. Massachusetts Financial Services Co. MA boosted its holdings in East West Bancorp by 30.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after purchasing an additional 751,944 shares in the last quarter. Boston Partners increased its position in East West Bancorp by 48.5% during the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after buying an additional 886,841 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in East West Bancorp by 3.0% during the fourth quarter. Schroder Investment Management Group now owns 2,462,062 shares of the financial services provider’s stock valued at $177,145,000 after buying an additional 72,746 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EWBC. Jefferies Financial Group decreased their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Truist Financial raised their target price on East West Bancorp from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. DA Davidson boosted their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler raised their price objective on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.60.

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.