East West Bancorp, Inc. (NASDAQ:EWBC) Director Sells $166,411.92 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the sale, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

East West Bancorp Stock Down 1.3 %

EWBC traded down $1.17 during trading on Monday, reaching $86.80. The company had a trading volume of 416,831 shares, compared to its average volume of 1,041,513. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp, Inc. has a 12 month low of $49.59 and a 12 month high of $88.51. The business’s fifty day moving average price is $74.52 and its 200 day moving average price is $74.34. The company has a market cap of $12.08 billion, a P/E ratio of 10.97, a PEG ratio of 3.00 and a beta of 1.32.

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

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Institutional Trading of East West Bancorp

A number of institutional investors have recently made changes to their positions in EWBC. Capital Research Global Investors bought a new stake in shares of East West Bancorp in the first quarter worth $338,142,000. Norges Bank bought a new stake in shares of East West Bancorp in the fourth quarter worth $115,369,000. Westfield Capital Management Co. LP bought a new stake in shares of East West Bancorp in the fourth quarter worth $67,692,000. Boston Partners lifted its position in shares of East West Bancorp by 48.5% in the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after purchasing an additional 886,841 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of East West Bancorp by 112.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after purchasing an additional 762,958 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EWBC. Keefe, Bruyette & Woods lifted their price target on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group decreased their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Wedbush boosted their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on shares of East West Bancorp from $80.00 to $96.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays decreased their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.60.

East West Bancorp Company Profile

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.