East West Bancorp, Inc. (NASDAQ:EWBC) Director Iris S. Chan sold 2,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $66.69, for a total value of $133,380.00. Following the sale, the director now directly owns 20,301 shares in the company, valued at $1,353,873.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
East West Bancorp, Inc. (NASDAQ EWBC) traded up $1.52 during trading hours on Tuesday, reaching $64.03. The company had a trading volume of 1,431,940 shares, compared to its average volume of 803,322. The firm has a market capitalization of $9,250.00, a price-to-earnings ratio of 18.45, a PEG ratio of 1.42 and a beta of 1.45. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.13. East West Bancorp, Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $69.25.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. East West Bancorp’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. sell-side analysts anticipate that East West Bancorp, Inc. will post 4.42 EPS for the current fiscal year.
EWBC has been the topic of several analyst reports. SunTrust Banks reissued a “buy” rating and set a $65.00 target price on shares of East West Bancorp in a report on Thursday, October 12th. DA Davidson reissued a “hold” rating and set a $63.00 target price on shares of East West Bancorp in a report on Friday, October 20th. Wedbush reissued an “outperform” rating and set a $66.00 target price (down from $68.00) on shares of East West Bancorp in a report on Friday, October 20th. Barclays set a $66.00 target price on East West Bancorp and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, BMO Capital Markets increased their target price on East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.50.
A number of institutional investors have recently bought and sold shares of EWBC. State Street Corp raised its position in East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after purchasing an additional 1,004,860 shares during the last quarter. Janus Henderson Group PLC raised its position in East West Bancorp by 66.8% in the third quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock valued at $58,784,000 after purchasing an additional 393,861 shares during the last quarter. Hahn Capital Management LLC bought a new position in East West Bancorp in the second quarter valued at about $21,380,000. Jennison Associates LLC raised its position in East West Bancorp by 11.3% in the fourth quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock valued at $177,381,000 after purchasing an additional 294,977 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in East West Bancorp by 29.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,296,562 shares of the financial services provider’s stock valued at $78,870,000 after purchasing an additional 294,791 shares during the last quarter. Hedge funds and other institutional investors own 91.39% of the company’s stock.
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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