East West Bancorp (NASDAQ:EWBC) Posts Earnings Results, Beats Estimates By $0.05 EPS

East West Bancorp (NASDAQ:EWBC - Get Free Report) released its quarterly earnings results on Tuesday. The financial services provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.05, Zacks reports. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $702.04 million. During the same period in the prior year, the firm posted $2.07 EPS. East West Bancorp's quarterly revenue was up 10.3% compared to the same quarter last year.

East West Bancorp Stock Up 0.1%

EWBC traded up $0.10 during trading on Friday, hitting $103.61. The stock had a trading volume of 948,042 shares, compared to its average volume of 946,676. The stock has a 50 day simple moving average of $98.97 and a two-hundred day simple moving average of $93.60. The company has a market capitalization of $14.28 billion, a PE ratio of 12.10, a PEG ratio of 1.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp has a twelve month low of $68.27 and a twelve month high of $113.95.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, August 4th. East West Bancorp's payout ratio is 28.04%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the company'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 value of $3,857,200.00. Following the sale, the chief executive officer owned 928,314 shares in the company, valued at approximately $89,517,319.02. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $95.04, for a total transaction of $199,584.00. Following the sale, the executive vice president directly owned 14,849 shares in the company, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Institutional Trading of East West Bancorp

An institutional investor recently raised its position in East West Bancorp stock. Geneos Wealth Management Inc. lifted its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 66.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 801 shares of the financial services provider's stock after purchasing an additional 321 shares during the quarter. Geneos Wealth Management Inc.'s holdings in East West Bancorp were worth $72,000 at the end of the most recent reporting period. 89.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial lifted their target price on East West Bancorp from $102.00 to $110.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. 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. Barclays upped their price objective on shares of East West Bancorp from $110.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley lowered shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $118.00 to $90.00 in a research report on Monday, April 7th. Finally, Wells Fargo & Company lifted their price objective on shares of East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.15.

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.