East West Bancorp, Inc. (NASDAQ:EWBC) Director Sells $147,975.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) 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) 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

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, November 4th. East West Bancorp’s payout ratio is 27.78%.

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.

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.