East West Bancorp (NASDAQ:EWBC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

East West Bancorp (NASDAQ:EWBC) released its earnings results on Tuesday. The financial services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.06 by $0.08, Briefing.com reports. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same quarter in the previous year, the company posted $2.02 earnings per share.

East West Bancorp Stock Up 1.5 %

East West Bancorp stock traded up $1.30 during trading hours on Tuesday, hitting $90.38. The company had a trading volume of 928,063 shares, compared to its average volume of 924,876. East West Bancorp has a fifty-two week low of $51.33 and a fifty-two week high of $93.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $12.58 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The firm’s fifty day moving average is $82.72 and its 200-day moving average is $78.13.

Insider Transactions at East West Bancorp

In related news, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now directly owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 18,470 shares in the company, valued at $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,346 shares of company stock valued at $1,108,160 in the last three months. Corporate insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EWBC. Jefferies Financial Group cut their target price on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Piper Sandler boosted their price objective on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wedbush raised their price target on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial lowered their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Stephens lifted their target price on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.77.

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.