East West Bancorp, Inc. (NASDAQ:EWBC) Director Rudolph Estrada Sells 1,896 Shares

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 value of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

East West Bancorp Stock Down 1.3 %

Shares of NASDAQ EWBC traded down $1.17 during mid-day trading on Monday, hitting $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 market capitalization of $12.08 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 3.00 and a beta of 1.32. 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 1-year low of $49.59 and a 1-year high of $88.51. The business’s 50-day simple moving average is $74.52 and its 200 day simple moving average is $74.34.

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, beating the consensus estimate of $1.97 by $0.10. The business had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. On average, analysts predict that East West Bancorp, Inc. will post 8.15 earnings per share for the current year.

East West Bancorp Dividend Announcement

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

Institutional Trading of East West Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its stake in East West Bancorp by 3.8% in the second 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 in the last quarter. OLD National Bancorp IN raised its stake in East West Bancorp by 6.4% in the second quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after buying an additional 175 shares in the last quarter. Blair William & Co. IL raised its stake in East West Bancorp by 5.4% in the first quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock valued at $292,000 after buying an additional 189 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in East West Bancorp by 29.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 840 shares of the financial services provider’s stock valued at $60,000 after buying an additional 190 shares in the last quarter. Finally, Denali Advisors LLC raised its stake in East West Bancorp by 66.7% in the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EWBC. Barclays reduced their target price on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Jefferies Financial Group decreased 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 report on Wednesday, July 3rd. Truist Financial boosted their price target on shares of East West Bancorp from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Stephens boosted their target price on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and an average price target 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.