Molly Campbell Sells 1,500 Shares of East West Bancorp, Inc. (NASDAQ:EWBC) Stock

East West Bancorp, Inc. (NASDAQ:EWBC) Director Molly Campbell sold 1,500 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the sale, the director now directly owns 10,639 shares of the company’s stock, valued at approximately $1,049,537.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

East West Bancorp Trading Up 0.7 %

Shares of East West Bancorp stock traded up $0.71 on Wednesday, hitting $99.19. The stock had a trading volume of 463,798 shares, compared to its average volume of 929,709. The stock has a 50 day moving average of $84.64 and a 200 day moving average of $79.02. East West Bancorp, Inc. has a twelve month low of $52.91 and a twelve month high of $101.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $13.80 billion, a P/E ratio of 12.59, a PEG ratio of 2.20 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $2.02 EPS. Sell-side analysts expect that East West Bancorp, Inc. will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

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

Hedge Funds Weigh In On East West Bancorp

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

Analyst Ratings Changes

EWBC has been the subject of a number of research reports. 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 report on Monday, September 30th. Piper Sandler raised their price objective on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush raised their target price on shares of East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their price objective on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.46.

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.