East West Bancorp (NASDAQ:EWBC) CEO Sells 34,977 Shares of Company Stock

Key Points

• CEO Dominic Ng sold 34,977 shares at an average price of $132.12, totaling about $4.62 million. After the sale, he directly owned 672,953 shares, a 4.94% reduction in his holdings.
• East West Bancorp reported quarterly earnings of $2.76 per share, above the $2.72 consensus estimate, and revenue of $822.72 million, up 5.8% year over year.
• The company announced a quarterly dividend of $0.80 per share, equivalent to $3.20 annually and a reported 2.4% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $145.15.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) CEO Dominic Ng sold 34,977 shares of East West Bancorp stock in a transaction on Monday, November 9th. The stock was sold at an average price of $132.12, for a total value of $4,621,161.24. Following the sale, the chief executive officer directly owned 672,953 shares of the company's stock, valued at approximately $88,910,550.36. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

East West Bancorp Trading Up 1.7%

NASDAQ EWBC traded up $2.13 on Monday, reaching $130.97. The company had a trading volume of 835,263 shares, compared to its average volume of 956,985. The stock's 50 day moving average is $128.18 and its 200-day moving average is $123.37. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.34 and a beta of 0.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34. East West Bancorp, Inc. has a 52 week low of $98.72 and a 52 week high of $137.47.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Tuesday, October 20th. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.04. The firm had revenue of $822.72 million for the quarter, compared to analyst estimates of $811.07 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.75%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 earnings per share. Equities analysts predict that East West Bancorp, Inc. will post 10.73 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Monday, November 2nd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 2nd. East West Bancorp's dividend payout ratio is presently 30.45%.

Analyst Upgrades and Downgrades

EWBC has been the topic of several analyst reports. Stephens increased their target price on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Citigroup boosted their price target on shares of East West Bancorp from $152.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of East West Bancorp in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, DA Davidson raised their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.15.

Institutional Trading of East West Bancorp

A number of large investors have recently bought and sold shares of the business. Solstein Capital LLC acquired a new position in shares of East West Bancorp in the second quarter valued at $27,000. Ancora Advisors LLC acquired a new stake in shares of East West Bancorp during the 2nd quarter worth about $27,000. Heritage Family Offices LLP acquired a new stake in shares of East West Bancorp during the 3rd quarter worth about $30,000. Fiduciary Financial Advisors bought a new stake in shares of East West Bancorp during the 2nd quarter worth about $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of East West Bancorp during the 2nd quarter worth about $37,000. 89.53% of the stock is owned by institutional investors.

About East West Bancorp

East West Bancorp, Inc is the holding company for East West Bank, a commercial bank headquartered in Pasadena, California. Founded in 1973, the bank initially served Chinese American communities in Southern California and has since expanded its services and geographic reach.

East West Bank provides personal and business banking, commercial lending, trade finance, treasury management and other financial services. Its customers include individuals, small and midsize businesses, and larger companies, with a focus on supporting commerce between the United States and Asia.

The bank operates across several U.S.

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