East West Bancorp, Inc. (NASDAQ:EWBC) Director Molly Campbell Sells 1,500 Shares

East West Bancorp, Inc. (NASDAQ:EWBC) Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the transaction, the director now directly owns 10,639 shares in the company, valued at $1,049,537.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $98.83 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a one year low of $52.91 and a one year high of $101.31. The firm has a market capitalization of $13.75 billion, a P/E ratio of 12.45, a PEG ratio of 2.20 and a beta of 1.29. The company’s fifty day moving average is $85.00 and its two-hundred day moving average is $79.16.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.41%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Analysts forecast that East West Bancorp, Inc. will post 8.21 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s payout ratio is currently 27.71%.

Hedge Funds Weigh In On East West Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of EWBC. Capital Research Global Investors purchased a new position in shares of East West Bancorp in the first quarter valued at $338,142,000. Dimensional Fund Advisors LP boosted its position in shares of East West Bancorp by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider’s stock worth $133,480,000 after buying an additional 118,658 shares in the last quarter. Jennison Associates LLC grew its stake in East West Bancorp by 82.2% in the 1st quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after acquiring an additional 761,347 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in East West Bancorp by 112.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock valued at $114,013,000 after acquiring an additional 762,958 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in East West Bancorp during the second quarter worth about $59,460,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wedbush lifted their price objective on shares of East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price target on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group cut their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

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.