East West Bancorp (NASDAQ:EWBC) Insider Irene Oh Sells 11,211 Shares

Key Points

• Insider sale: East West Bancorp insider Irene Oh sold 11,211 shares at $129.00 each, totaling about $1.45 million. After the transaction, she still owned 85,998 shares, reducing her stake by 11.53%.
• Stock and earnings: EWBC shares rose 1.6% to $130.18, near their 52-week high of $130.54. The company recently beat quarterly EPS estimates, reporting $2.57 per share versus $2.46 expected, with revenue up 11.8% year over year.
• Dividend and outlook: East West Bancorp paid a quarterly dividend of $0.80 per share, or $3.20 annually, for a yield of 2.5%. Analysts currently view the stock as a Moderate Buy with a consensus price target of $133.69.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) insider Irene Oh sold 11,211 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the completion of the transaction, the insider directly owned 85,998 shares of the company's stock, valued at approximately $11,093,742. The trade was a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

East West Bancorp Stock Up 1.6%

Shares of NASDAQ:EWBC traded up $2.09 during trading on Thursday, reaching $130.18. The stock had a trading volume of 762,616 shares, compared to its average volume of 1,035,401. The firm's 50-day simple moving average is $120.39 and its 200 day simple moving average is $115.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. East West Bancorp, Inc. has a one year low of $90.79 and a one year high of $130.54. The company has a market capitalization of $17.83 billion, a P/E ratio of 13.00, a PEG ratio of 1.58 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm had revenue of $773.75 million for the quarter, compared to the consensus estimate of $767.80 million. During the same quarter in the previous year, the firm earned $2.08 EPS. The company's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts expect that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its holdings in East West Bancorp by 84,090.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock worth $596,967,000 after purchasing an additional 5,305,257 shares in the last quarter. Norges Bank acquired a new stake in East West Bancorp during the 4th quarter worth approximately $199,529,000. Price T Rowe Associates Inc. MD grew its position in East West Bancorp by 281.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,607,314 shares of the financial services provider's stock valued at $180,647,000 after buying an additional 1,185,781 shares during the last quarter. Boston Partners boosted its holdings in shares of East West Bancorp by 19.6% in the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock valued at $412,464,000 after acquiring an additional 633,649 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in East West Bancorp by 61.9% in the second quarter. AQR Capital Management LLC now owns 1,418,174 shares of the financial services provider's stock valued at $143,207,000 after purchasing an additional 542,149 shares during the period. Hedge funds and other institutional investors own 89.53% of the company's stock.

Analysts Set New Price Targets

EWBC has been the subject of several analyst reports. Citigroup boosted 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. Morgan Stanley dropped their price target on East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Piper Sandler increased their target price on shares of East West Bancorp from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. UBS Group increased their target price on shares of East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Finally, Barclays dropped their price objective on shares of East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.69.

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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