East West Bancorp, Inc. (NASDAQ:EWBC) Insider Irene H. Oh Sells 10,000 Shares

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

East West Bancorp Stock Up 0.7 %

East West Bancorp stock traded up $0.71 during mid-day trading on Wednesday, reaching $99.19. 463,798 shares of the company’s stock were exchanged, compared to its average volume of 929,709. The company has a market cap of $13.80 billion, a P/E ratio of 12.59, a P/E/G ratio of 2.20 and a beta of 1.29. East West Bancorp, Inc. has a twelve month low of $52.91 and a twelve month high of $101.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $84.64 and a 200-day moving average of $79.02.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.41%. During the same period in the prior year, the business earned $2.02 EPS. Sell-side analysts expect that East West Bancorp, Inc. will post 8.21 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $0.55 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.22%. East West Bancorp’s payout ratio is 27.71%.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of EWBC. CIBC Asset Management Inc grew its position in shares of East West Bancorp by 2.8% in the 2nd quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after buying an additional 128 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after buying an additional 133 shares during the last quarter. US Bancorp DE grew its position in shares of East West Bancorp by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock valued at $161,000 after buying an additional 141 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of East West Bancorp by 4.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock valued at $294,000 after buying an additional 148 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of East West Bancorp by 3.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after buying an additional 160 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group cut their target price on shares of 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 upped their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson increased their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley increased their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, East West Bancorp presently has an average rating of “Moderate Buy” and an average price target of $99.46.

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.