East West Bancorp (NASDAQ:EWBC) Insider Irene Oh Sells 11,211 Shares of Stock

East West Bancorp, Inc. (NASDAQ:EWBC) insider Irene Oh sold 11,211 shares of East West Bancorp stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the sale, the insider owned 85,998 shares in the company, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $130.18 on Friday. East West Bancorp, Inc. has a 12 month low of $90.79 and a 12 month high of $130.54. The stock has a market cap of $17.83 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $120.86 and its 200-day moving average price is $115.47.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm had revenue of $773.75 million for the quarter, compared to analysts’ expectations of $767.80 million. During the same quarter in the previous year, the business posted $2.08 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, May 4th. East West Bancorp’s payout ratio is 31.97%.

Wall Street Analysts Forecast Growth

EWBC has been the topic of a number of research reports. Citigroup boosted their target price on shares of East West Bancorp from $139.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. DA Davidson boosted their target price on shares of East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Truist Financial boosted their target price on shares of East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. TD Cowen boosted their target price on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 price target on shares of East West Bancorp in a research report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.69.

Hedge Funds Weigh In On East West Bancorp

Several large investors have recently modified their holdings of the stock. Quarry LP raised its position in shares of East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 102 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of East West Bancorp by 1.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its position in shares of East West Bancorp by 1.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 102 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in shares of East West Bancorp by 1.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of East West Bancorp by 4.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About East West Bancorp

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.