East West Bancorp, Inc. (NASDAQ:EWBC) Director Molly Campbell sold 150 shares of the business’s stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $67.45, for a total value of $10,117.50. Following the transaction, the director now owns 11,187 shares of the company’s stock, valued at $754,563.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NASDAQ EWBC opened at $68.63 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $9.74 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.20 and a beta of 1.88. East West Bancorp, Inc. has a one year low of $30.49 and a one year high of $82.53. The stock has a 50 day moving average price of $72.57 and a 200-day moving average price of $73.72.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Wednesday, July 21st. The financial services provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. The firm had revenue of $444.90 million during the quarter, compared to the consensus estimate of $430.71 million. East West Bancorp had a return on equity of 14.20% and a net margin of 42.12%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. As a group, equities analysts predict that East West Bancorp, Inc. will post 6.01 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in EWBC. FMR LLC raised its holdings in East West Bancorp by 51.5% during the 1st quarter. FMR LLC now owns 510,524 shares of the financial services provider’s stock valued at $24,490,000 after buying an additional 173,633 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in East West Bancorp by 1.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 201,028 shares of the financial services provider’s stock valued at $9,643,000 after buying an additional 2,791 shares during the period. Victory Capital Management Inc. raised its holdings in East West Bancorp by 14.7% during the 1st quarter. Victory Capital Management Inc. now owns 301,418 shares of the financial services provider’s stock valued at $22,245,000 after buying an additional 38,601 shares during the period. Commonwealth Equity Services LLC purchased a new stake in East West Bancorp in the first quarter worth $3,590,000. Finally, Envestnet Asset Management Inc. increased its stake in East West Bancorp by 17.0% in the first quarter. Envestnet Asset Management Inc. now owns 217,939 shares of the financial services provider’s stock worth $16,084,000 after purchasing an additional 31,655 shares during the period. Institutional investors own 87.86% of the company’s stock.
A number of research analysts recently issued reports on EWBC shares. Compass Point upgraded East West Bancorp from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Wednesday, August 11th. Truist Securities boosted their price objective on East West Bancorp from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 13th. Truist upped their price target on East West Bancorp from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 13th. They noted that the move was a valuation call. Wells Fargo & Company upped their price target on East West Bancorp from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, July 23rd. Finally, Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, July 27th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $86.30.
About East West Bancorp
East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.
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