East West Bancorp (NASDAQ:EWBC) Director Sells $105,624.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) Director Manuel Alvarez sold 810 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $130.40, for a total transaction of $105,624.00. Following the transaction, the director owned 10,629 shares in the company, valued at $1,386,021.60. This trade represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

East West Bancorp Price Performance

EWBC opened at $129.17 on Friday. The company has a 50-day moving average of $131.33 and a 200-day moving average of $123.04. The company has a market capitalization of $17.70 billion, a P/E ratio of 12.42, a PEG ratio of 1.50 and a beta of 0.93. East West Bancorp, Inc. has a 1-year low of $92.67 and a 1-year high of $137.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping the consensus estimate of $2.61 by $0.02. The business had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.24 earnings per share. Equities analysts expect that East West Bancorp, Inc. will post 10.61 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a $0.80 dividend. The ex-dividend date was Monday, August 3rd. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EWBC shares. Morgan Stanley upgraded East West Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $131.00 to $160.00 in a research note on Tuesday. DA Davidson boosted their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Citigroup reissued a “buy” rating on shares of East West Bancorp in a report on Thursday, July 23rd. Wells Fargo & Company started coverage on shares of East West Bancorp in a research report on Monday, August 10th. They issued an “overweight” rating and a $155.00 price target on the stock. Finally, Stephens lifted their price target on shares of East West Bancorp from $129.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.15.

Institutional Trading of East West Bancorp

Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $907,000. Natixis Advisors LLC grew its stake in shares of East West Bancorp by 9.6% in the 4th quarter. Natixis Advisors LLC now owns 199,658 shares of the financial services provider’s stock valued at $22,440,000 after buying an additional 17,486 shares in the last quarter. Geode Capital Management LLC increased its holdings in East West Bancorp by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider’s stock worth $319,523,000 after buying an additional 27,402 shares during the last quarter. New York Life Investment Management LLC acquired a new position in East West Bancorp in the fourth quarter worth approximately $1,387,000. Finally, Jackson Creek Investment Advisors LLC acquired a new position in East West Bancorp in the fourth quarter worth approximately $1,516,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc (NASDAQ: EWBC) is the holding company for East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the company provides banking and financial services to individuals, businesses, and institutions through its East West Bank subsidiary.

East West Bank offers deposit accounts, commercial and consumer lending, residential mortgage services, wealth management, treasury management, and international banking services. Its products support commercial real estate, commercial and industrial businesses, residential borrowers, and consumers.

The bank has a particular focus on serving communities and businesses connected to the United States and Greater China.