East West Bancorp, Inc. (NASDAQ:EWBC) CEO Sells $3,857,200.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) CEO Dominic Ng sold 40,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the sale, the chief executive officer now directly owns 928,314 shares in the company, valued at $89,517,319.02. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Dominic Ng also recently made the following trade(s):

• On Wednesday, March 19th, Dominic Ng sold 19,819 shares of East West Bancorp stock. The shares were sold at an average price of $90.00, for a total transaction of $1,783,710.00.
• On Friday, March 7th, Dominic Ng sold 20,181 shares of East West Bancorp stock. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81.
• On Friday, March 7th, Dominic Ng sold 20,181 shares of East West Bancorp stock. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81.

East West Bancorp Price Performance

Shares of East West Bancorp stock traded up $0.14 on Friday, hitting $95.24. 162,327 shares of the company traded hands, compared to its average volume of 914,572. The firm's 50-day simple moving average is $84.64 and its 200 day simple moving average is $94.64. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $13.18 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The firm had revenue of $693.00 million for the quarter, compared to analysts' expectations of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. Analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, May 2nd. East West Bancorp's payout ratio is presently 28.64%.

Hedge Funds Weigh In On East West Bancorp

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in East West Bancorp by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,197,068 shares of the financial services provider's stock worth $1,359,511,000 after purchasing an additional 70,503 shares during the period. FMR LLC raised its position in East West Bancorp by 1.4% in the 4th quarter. FMR LLC now owns 7,990,468 shares of the financial services provider's stock worth $765,167,000 after purchasing an additional 107,665 shares during the period. Invesco Ltd. raised its position in East West Bancorp by 155.6% in the 1st quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider's stock worth $692,468,000 after purchasing an additional 4,696,157 shares during the period. Charles Schwab Investment Management Inc. raised its position in East West Bancorp by 7.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,733,102 shares of the financial services provider's stock worth $424,843,000 after purchasing an additional 314,262 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in East West Bancorp by 1.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,005,394 shares of the financial services provider's stock worth $359,525,000 after purchasing an additional 46,717 shares during the period. Hedge funds and other institutional investors own 89.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler lowered their price objective on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. StockNews.com downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Friday, March 28th. Barclays upped their price objective on shares of East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Truist Financial began coverage on shares of East West Bancorp in a report on Tuesday. They issued a "hold" rating and a $102.00 target price for the company. Finally, DA Davidson lowered their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.54.

East West Bancorp Company Profile

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.