East West Bancorp (NASDAQ:EWBC) Releases Quarterly Earnings Results

Key Points

• East West Bancorp reported a quarterly EPS of $2.62, surpassing analysts' expectations of $2.33 by $0.29, with a net margin of 26.06%.
• The company's stock rose 0.5% to $98.81, with a market capitalization of $13.62 billion and a consensus price target of $121.33.
• Insider transactions revealed significant sales, with insider Irene H. Oh selling 15,051 shares and executive Gary Teo selling 6,550 shares, indicating a notable change in ownership among company insiders.

East West Bancorp (NASDAQ:EWBC - Get Free Report) released its quarterly earnings results on Tuesday. The financial services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.33 by $0.29, Zacks reports. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%.

East West Bancorp Stock Up 0.5%

EWBC traded up $0.49 on Tuesday, reaching $98.81. The company's stock had a trading volume of 1,412,958 shares, compared to its average volume of 1,002,368. The stock has a 50 day moving average of $105.03 and a two-hundred day moving average of $97.61. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.31 and a beta of 0.93. East West Bancorp has a fifty-two week low of $68.27 and a fifty-two week high of $113.95.

Insiders Place Their Bets

In related news, insider Irene H. Oh sold 15,051 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $106.73, for a total value of $1,606,393.23. Following the completion of the transaction, the insider directly owned 113,353 shares of the company's stock, valued at $12,098,165.69. This represents a 11.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gary Teo sold 6,550 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total value of $697,378.50. Following the completion of the sale, the executive vice president directly owned 12,235 shares of the company's stock, valued at $1,302,660.45. The trade was a 34.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,240 shares of company stock valued at $7,379,678. 1.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On East West Bancorp

Several large investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $142,000. Geneos Wealth Management Inc. boosted its holdings in shares of East West Bancorp by 22.6% in the second quarter. Geneos Wealth Management Inc. now owns 982 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 181 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $205,000. Corient Private Wealth LLC lifted its holdings in shares of East West Bancorp by 4.7% during the second quarter. Corient Private Wealth LLC now owns 15,739 shares of the financial services provider's stock worth $1,589,000 after purchasing an additional 709 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of East West Bancorp by 34.8% during the second quarter. Captrust Financial Advisors now owns 8,446 shares of the financial services provider's stock worth $853,000 after purchasing an additional 2,179 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen assumed coverage on shares of East West Bancorp in a research report on Thursday, September 25th. They issued a "buy" rating and a $139.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Cantor Fitzgerald assumed coverage on shares of East West Bancorp in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $124.00 price target on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of East West Bancorp in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.33.

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.

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