East West Bancorp, Inc. (NASDAQ:EWBC) CEO Sells $4,135,200.00 in Stock

Key Points

• Dominic Ng, CEO of East West Bancorp, sold 40,000 shares of the company stock for approximately $4.13 million, reducing his ownership by 4.31% to about 888,314 shares valued at approximately $91.83 million.
• The company reported a quarterly EPS of $2.28, exceeding analysts' expectations, alongside a revenue of $705 million, marking a 10.3% increase year-over-year.
• East West Bancorp announced a quarterly dividend of $0.60 per share, with an ex-dividend date of August 4th, reflecting an annualized dividend yield of 2.32%.

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, July 28th. The stock was sold at an average price of $103.38, for a total value of $4,135,200.00. Following the completion of the sale, the chief executive officer owned 888,314 shares of the company's stock, valued at $91,833,901.32. The trade was a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, May 12th, Dominic Ng sold 40,000 shares of East West Bancorp stock. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00.

East West Bancorp Stock Down 1.4%

Shares of NASDAQ EWBC traded down $1.45 during trading on Friday, reaching $98.80. The company had a trading volume of 1,263,494 shares, compared to its average volume of 928,289. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $113.95. The stock has a market cap of $13.62 billion, a PE ratio of 11.54, a P/E/G ratio of 1.36 and a beta of 0.97. The business's 50-day moving average is $99.90 and its 200 day moving average is $93.82. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.05. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. The firm had revenue of $705.00 million for the quarter, compared to analysts' expectations of $702.04 million. During the same period in the prior year, the firm posted $2.07 earnings per share. The company's quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 4th. East West Bancorp's dividend payout ratio is currently 28.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EWBC shares. Wells Fargo & Company boosted their target price on East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Jefferies Financial Group started coverage on East West Bancorp in a research note on Wednesday, May 21st. They set a "buy" rating and a $115.00 target price on the stock. Citigroup boosted their target price on East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley cut East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $118.00 to $90.00 in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods boosted their target price on East West Bancorp from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $114.15.

Institutional Investors Weigh In On East West Bancorp

Institutional investors have recently modified their holdings of the stock. Xponance Inc. grew its stake in shares of East West Bancorp by 1.9% in the first quarter. Xponance Inc. now owns 16,141 shares of the financial services provider's stock worth $1,449,000 after acquiring an additional 302 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of East West Bancorp by 25.0% during the first quarter. Janney Montgomery Scott LLC now owns 28,287 shares of the financial services provider's stock valued at $2,539,000 after purchasing an additional 5,654 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of East West Bancorp by 35.9% during the first quarter. Cerity Partners LLC now owns 16,157 shares of the financial services provider's stock valued at $1,450,000 after purchasing an additional 4,271 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of East West Bancorp by 470.9% during the first quarter. SG Americas Securities LLC now owns 7,559 shares of the financial services provider's stock valued at $678,000 after purchasing an additional 6,235 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of East West Bancorp during the fourth quarter valued at $1,072,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.