Jack C. Liu Sells 1,123 Shares of East West Bancorp, Inc. (EWBC) Stock
East West Bancorp, Inc. (NASDAQ:EWBC) Director Jack C. Liu sold 1,123 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of East West Bancorp, Inc. (EWBC) traded down 2.386% during trading on Wednesday, hitting $57.895. The company had a trading volume of 637,332 shares. East West Bancorp, Inc. has a 1-year low of $31.34 and a 1-year high of $59.58. The company’s 50 day moving average is $55.45 and its 200 day moving average is $52.68. The firm has a market capitalization of $8.36 billion, a P/E ratio of 17.073 and a beta of 1.42.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.14. East West Bancorp had a return on equity of 19.47% and a net margin of 43.73%. The company had revenue of $388.15 million for the quarter, compared to analyst estimates of $314.52 million. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts anticipate that East West Bancorp, Inc. will post $3.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. East West Bancorp’s dividend payout ratio is presently 23.60%.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in East West Bancorp by 11,449.0% in the first quarter. BlackRock Inc. now owns 11,955,936 shares of the financial services provider’s stock valued at $617,046,000 after buying an additional 11,852,412 shares in the last quarter. Vanguard Group Inc. raised its stake in East West Bancorp by 5.0% in the first quarter. Vanguard Group Inc. now owns 11,840,450 shares of the financial services provider’s stock valued at $611,085,000 after buying an additional 566,257 shares in the last quarter. State Street Corp raised its stake in East West Bancorp by 3.4% in the first quarter. State Street Corp now owns 6,094,888 shares of the financial services provider’s stock valued at $314,556,000 after buying an additional 199,996 shares in the last quarter. Boston Partners raised its stake in East West Bancorp by 10.1% in the first quarter. Boston Partners now owns 5,739,945 shares of the financial services provider’s stock valued at $296,238,000 after buying an additional 526,404 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in East West Bancorp by 1.1% in the first quarter. Macquarie Group Ltd. now owns 4,038,781 shares of the financial services provider’s stock valued at $208,441,000 after buying an additional 45,604 shares in the last quarter. Institutional investors own 88.01% of the company’s stock.
EWBC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, April 20th. BMO Capital Markets restated a “buy” rating and set a $63.00 price target on shares of East West Bancorp in a report on Wednesday, March 22nd. Morgan Stanley increased their price target on East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $56.00 price target on shares of East West Bancorp in a report on Wednesday, April 5th. Finally, Piper Jaffray Companies cut their price target on East West Bancorp to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $58.57.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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