East West Bancorp (NASDAQ:EWBC) CEO Sells 35,023 Shares of Stock

Key Points

• CEO Dominic Ng sold 35,023 shares at an average price of $130.57, worth about $4.57 million. His direct holdings fell 5.2% to 637,930 shares; he had also sold 34,977 shares earlier in the week.
• East West Bancorp’s latest quarterly results beat estimates: EPS was $2.76 versus $2.72 expected, and revenue was $822.72 million versus $811.07 million expected. Revenue increased 5.8% year over year.
• Analysts hold a consensus “Moderate Buy” rating, with a $145.71 average price target. The company announced a quarterly dividend of $0.80 per share, equivalent to a 2.4% yield at the article’s cited share price.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) CEO Dominic Ng sold 35,023 shares of East West Bancorp stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $130.57, for a total value of $4,572,953.11. Following the transaction, the chief executive officer directly owned 637,930 shares in the company, valued at approximately $83,294,520.10. The trade was a 5.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Dominic Ng also recently made the following trade(s):

• On Monday, November 9th, Dominic Ng sold 34,977 shares of East West Bancorp stock. The shares were sold at an average price of $132.12, for a total value of $4,621,161.24.

East West Bancorp Stock Up 0.0%

NASDAQ EWBC traded up $0.06 on Friday, reaching $131.21. The company had a trading volume of 737,669 shares, compared to its average volume of 951,274. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34. The company's fifty day moving average is $128.41 and its 200 day moving average is $123.71. East West Bancorp, Inc. has a 52-week low of $98.72 and a 52-week high of $137.47. The stock has a market capitalization of $17.98 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.35 and a beta of 0.99.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.04. The firm had revenue of $822.72 million for the quarter, compared to the consensus estimate of $811.07 million. East West Bancorp had a net margin of 30.75% and a return on equity of 16.07%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 EPS. Sell-side analysts anticipate that East West Bancorp, Inc. will post 10.74 earnings per share for the current fiscal 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 given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. East West Bancorp's dividend payout ratio (DPR) is currently 30.45%.

Institutional Trading of East West Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in East West Bancorp in the second quarter worth $1,744,958,000. Boston Partners raised its position in East West Bancorp by 1.4% during the third quarter. Boston Partners now owns 3,624,160 shares of the financial services provider's stock valued at $449,166,000 after purchasing an additional 50,049 shares in the last quarter. Dimensional Fund Advisors LP raised its position in East West Bancorp by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,915,445 shares of the financial services provider's stock valued at $204,470,000 after purchasing an additional 168,029 shares in the last quarter. Bank of America Corp DE bought a new stake in East West Bancorp during the second quarter worth about $221,652,000. Finally, Bank of New York Mellon Corp bought a new stake in East West Bancorp during the second quarter worth about $130,744,000. Institutional investors own 89.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. DA Davidson boosted their target price 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. Citigroup increased their price target on East West Bancorp from $152.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Wall Street Zen upgraded East West Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Barclays lifted their price target on East West Bancorp from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, November 3rd. Finally, Wells Fargo & Company boosted their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Monday. Twelve 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.71.

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.

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