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

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

East West Bancorp Stock Performance

Shares of EWBC traded up $1.30 during mid-day trading on Tuesday, reaching $90.38. The company’s stock had a trading volume of 928,063 shares, compared to its average volume of 924,876. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp has a 1-year low of $51.33 and a 1-year high of $93.30. The business has a 50-day simple moving average of $82.72 and a two-hundred day simple moving average of $78.13. The stock has a market cap of $12.58 billion, a P/E ratio of 11.33, a PEG ratio of 2.08 and a beta of 1.29.

Wall Street Analyst Weigh In

Several research firms have weighed in on EWBC. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Barclays increased their target price on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. DA Davidson boosted their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial decreased their price objective on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Wells Fargo & Company lifted their price target on East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.77.

Insider Buying and Selling

In other East West Bancorp news, 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 of the company’s stock, valued at $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Lisa L. Kim sold 6,000 shares of the company’s 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 transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $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. In the last three months, insiders have sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is owned by insiders.

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.