East West Bancorp (NASDAQ:EWBC) Vice Chairman Sells $1,235,000.00 in Stock

Key Points

• Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp at an average price of $123.50, totaling $1.235 million. After the sale, he still owned 46,974 shares, a 17.55% decrease in his stake.
• East West Bancorp shares fell 1.0% to $123.48 on Wednesday, though the stock remains near its 52-week high of $127.51. The company has a market cap of about $16.92 billion.
• The bank recently reported strong quarterly earnings, with EPS of $2.57 beating estimates and revenue rising 11.8% year over year. It also paid a quarterly dividend of $0.80 per share, implying a 2.6% annual yield.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) Vice Chairman Douglas Paul Krause sold 10,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares of the company's stock, valued at approximately $5,801,289. This represents a 17.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

East West Bancorp Stock Down 1.0%

Shares of East West Bancorp stock traded down $1.22 on Wednesday, reaching $123.48. 594,751 shares of the company were exchanged, compared to its average volume of 1,068,905. East West Bancorp, Inc. has a 1-year low of $88.97 and a 1-year high of $127.51. The company has a market cap of $16.92 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The stock's 50 day moving average price is $116.11 and its 200-day moving average price is $113.63.

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

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp's dividend payout ratio is 31.97%.

Analyst Ratings Changes

EWBC has been the subject of a number of research analyst reports. TD Cowen upped their price target on East West Bancorp from $137.00 to $143.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Truist Financial upped their price target on East West Bancorp from $120.00 to $128.00 and gave the company a "hold" rating in a report on Thursday, April 23rd. Citigroup upped their price target on East West Bancorp from $139.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price target on shares of East West Bancorp in a report on Wednesday, April 22nd. Finally, Barclays decreased their price objective on 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 investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.69.

Institutional Investors Weigh In On East West Bancorp

Several large investors have recently modified their holdings of EWBC. Geneos Wealth Management Inc. boosted its holdings in shares of East West Bancorp by 66.9% in the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 321 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $274,000. Baird Financial Group Inc. acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $290,000. Marshall Wace LLP boosted its holdings in shares of East West Bancorp by 34.3% in the second quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider's stock valued at $325,000 after acquiring an additional 823 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of East West Bancorp by 118.7% in the second quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider's stock valued at $3,568,000 after acquiring an additional 19,178 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

About East West Bancorp

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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