Archana Deskus Sells 1,800 Shares of East West Bancorp (NASDAQ:EWBC) Stock

Key Points

• Insider sale: Director Archana Deskus sold 1,800 shares at an average price of $125.55 for $225,990, cutting her stake by 11.98% to 13,231 shares (valued at about $1.66M).
• Earnings beat and dividend: East West Bancorp reported $2.57 EPS vs. $2.46 expected and revenue of $773.75M, and declared a quarterly dividend of $0.80 per share (annualized $3.20, ~2.5% yield) payable May 18.
• Market view: EWBC traded around $126.47, has high institutional ownership (~89.5%), and carries a consensus "Moderate Buy" rating with an average analyst target of about $132.36.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) Director Archana Deskus sold 1,800 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the sale, the director directly owned 13,231 shares of the company's stock, valued at $1,661,152.05. The trade was a 11.98% 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 Trading Up 1.4%

EWBC traded up $1.77 during trading on Thursday, hitting $126.47. 911,329 shares of the stock traded hands, compared to its average volume of 1,123,936. The firm has a market capitalization of $17.32 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average of $112.35 and a 200 day moving average of $110.92. East West Bancorp, Inc. has a 12-month low of $85.02 and a 12-month high of $127.00.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.11. The business had revenue of $773.75 million during the quarter, compared to analysts' expectations of $767.80 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. Equities research analysts anticipate that East West Bancorp, Inc. will post 10.46 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 18th. Shareholders of record on Monday, May 4th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.20 annualized dividend and a yield of 2.5%. East West Bancorp's dividend payout ratio is presently 31.97%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in East West Bancorp by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 28,198 shares of the financial services provider's stock valued at $3,010,000 after acquiring an additional 700 shares during the period. R Squared Ltd purchased a new position in East West Bancorp during the 1st quarter valued at about $361,000. Whittier Trust Co. of Nevada Inc. lifted its position in East West Bancorp by 2.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 124,474 shares of the financial services provider's stock valued at $13,686,000 after acquiring an additional 2,998 shares during the period. Whittier Trust Co. lifted its position in East West Bancorp by 8.3% during the 1st quarter. Whittier Trust Co. now owns 264,173 shares of the financial services provider's stock valued at $29,046,000 after acquiring an additional 20,264 shares during the period. Finally, Ascentis Independent Advisors purchased a new position in East West Bancorp during the 1st quarter valued at about $59,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EWBC shares. Citigroup lifted their target price on shares of East West Bancorp from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. TD Cowen lifted their target price on shares of East West Bancorp from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Morgan Stanley cut their target price on shares of East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $133.00 target price on shares of East West Bancorp in a research note on Wednesday, April 22nd. Finally, DA Davidson lifted their target price on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.36.

East West Bancorp Company Profile

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.

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