Rudolph Estrada Sells 1,916 Shares of East West Bancorp, Inc. (EWBC) Stock
East West Bancorp, Inc. (NASDAQ:EWBC) Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now directly owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
East West Bancorp, Inc. (EWBC) traded up 2.13% during mid-day trading on Wednesday, reaching $57.42. 1,210,988 shares of the company’s stock traded hands. East West Bancorp, Inc. has a 12 month low of $35.53 and a 12 month high of $60.42. The company has a 50 day moving average price of $55.78 and a 200-day moving average price of $55.37. The stock has a market cap of $8.30 billion, a P/E ratio of 16.40 and a beta of 1.43.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The firm had revenue of $337.49 million for the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period in the previous year, the firm earned $0.71 EPS. On average, analysts anticipate that East West Bancorp, Inc. will post $3.71 EPS for the current year.
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EWBC has been the topic of a number of research reports. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Wedbush reissued an “outperform” rating and issued a $68.00 price objective on shares of East West Bancorp in a research report on Thursday, July 20th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price objective (up previously from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. East West Bancorp presently has a consensus rating of “Hold” and an average price target of $62.88.
Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank purchased a new position in East West Bancorp during the 2nd quarter worth $104,000. Strs Ohio purchased a new position in East West Bancorp during the 2nd quarter worth $110,000. San Francisco Sentry Investment Group CA purchased a new position in East West Bancorp during the 2nd quarter worth $138,000. D.A. Davidson & CO. boosted its holdings in East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 26 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new position in East West Bancorp during the 2nd quarter worth $149,000. 90.48% of the stock is currently owned by hedge funds and other institutional investors.
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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