East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report) Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total transaction of $147,975.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
East West Bancorp Trading Down 0.1 %
EWBC opened at $97.35 on Friday. East West Bancorp, Inc. has a twelve month low of $54.23 and a twelve month high of $101.31. The company has a 50-day simple moving average of $85.59 and a 200 day simple moving average of $79.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 2.89 and a beta of 1.29.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the prior year, the business posted $2.02 earnings per share. Analysts predict that East West Bancorp, Inc. will post 8.31 EPS for the current fiscal year.
East West Bancorp Dividend Announcement
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of EWBC. Capital Research Global Investors acquired a new position in East West Bancorp during the first quarter worth about $338,142,000. Jupiter Asset Management Ltd. acquired a new position in shares of East West Bancorp in the second quarter valued at approximately $59,460,000. Lord Abbett & CO. LLC increased its stake in shares of East West Bancorp by 112.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock valued at $114,013,000 after buying an additional 762,958 shares during the period. Jennison Associates LLC increased its stake in shares of East West Bancorp by 82.2% in the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after buying an additional 761,347 shares during the period. Finally, Millennium Management LLC increased its stake in shares of East West Bancorp by 152.1% in the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock valued at $27,404,000 after buying an additional 225,799 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Compass Point lifted their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. DA Davidson boosted their target price on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and an average target price of $99.46.
View Our Latest Report on East West Bancorp
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.
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