Insider Selling: East West Bancorp, Inc. (NASDAQ:EWBC) Director Sells $45,980.76 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the completion of the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

East West Bancorp Stock Performance

Shares of EWBC opened at $101.69 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $87.03 and a 200-day moving average of $80.27. The company has a market cap of $14.09 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 2.81 and a beta of 1.27. East West Bancorp, Inc. has a one year low of $55.43 and a one year high of $107.33.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the previous year, the business earned $2.02 earnings per share. As a group, equities analysts forecast that East West Bancorp, Inc. will post 8.34 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, November 4th. East West Bancorp’s dividend payout ratio is 27.78%.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently modified their holdings of EWBC. Capital Performance Advisors LLP bought a new stake in shares of East West Bancorp during the 3rd quarter worth about $25,000. UMB Bank n.a. boosted its holdings in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 283 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp in the second quarter valued at approximately $30,000. American Capital Advisory LLC bought a new position in shares of East West Bancorp during the second quarter worth approximately $31,000. Finally, Tobam boosted its stake in East West Bancorp by 131.7% in the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson upped their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler raised their price objective on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Stephens upped their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup boosted their price target on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.