East West Bancorp (NASDAQ:EWBC) CEO Sells $3,408,900.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) CEO Dominic Ng sold 30,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $113.63, for a total value of $3,408,900.00. Following the completion of the transaction, the chief executive officer owned 858,314 shares in the company, valued at $97,530,219.82. This trade represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

East West Bancorp Price Performance

EWBC stock traded down $1.19 during trading on Friday, reaching $113.62. 551,178 shares of the company were exchanged, compared to its average volume of 470,199. The stock’s 50 day moving average price is $104.11 and its 200 day moving average price is $103.03. The company has a market cap of $15.63 billion, a P/E ratio of 12.53, a PEG ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $116.50.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The company had revenue of $627.36 million during the quarter. As a group, analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, November 3rd. East West Bancorp’s payout ratio is 26.46%.

Analysts Set New Price Targets

Several research analysts recently weighed in on EWBC shares. Wall Street Zen raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Truist Financial boosted their price objective on shares of East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Zacks Research raised shares of East West Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. TD Cowen assumed coverage on East West Bancorp in a report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price target for the company. Finally, Cowen started coverage on East West Bancorp in a report on Wednesday, September 24th. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Institutional Investors Weigh In On East West Bancorp

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in East West Bancorp by 880.7% in the 2nd quarter. US Bancorp DE now owns 21,625 shares of the financial services provider’s stock worth $2,184,000 after purchasing an additional 19,420 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of East West Bancorp by 16.5% during the first quarter. Deutsche Bank AG now owns 21,516 shares of the financial services provider’s stock valued at $1,931,000 after buying an additional 3,052 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of East West Bancorp during the first quarter worth approximately $2,187,000. First Citizens Bank & Trust Co. grew its holdings in East West Bancorp by 249.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,111 shares of the financial services provider’s stock worth $1,324,000 after buying an additional 9,363 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new stake in East West Bancorp in the 2nd quarter valued at approximately $2,029,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.