East West Bancorp (NASDAQ:EWBC) COO Sells $1,017,325.32 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) COO Parker Shi sold 8,844 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $115.03, for a total value of $1,017,325.32. Following the completion of the sale, the chief operating officer directly owned 14,950 shares of the company’s stock, valued at $1,719,698.50. This represents a 37.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

East West Bancorp Stock Down 1.0%

Shares of East West Bancorp stock opened at $113.62 on Friday. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $116.50. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $104.11 and a two-hundred day moving average price of $103.10. The stock has a market capitalization of $15.63 billion, a P/E ratio of 12.53, a PEG ratio of 1.26 and a beta of 0.92.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The company had revenue of $627.36 million for the quarter. Equities analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, November 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 26.46%.

Institutional Trading of East West Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of East West Bancorp by 38.5% during the 2nd quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider’s stock worth $1,078,807,000 after acquiring an additional 2,968,716 shares during the period. Charles Schwab Investment Management Inc. raised its position in East West Bancorp by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,819,273 shares of the financial services provider’s stock worth $486,650,000 after purchasing an additional 86,171 shares in the last quarter. First Trust Advisors LP lifted its stake in East West Bancorp by 0.5% during the third quarter. First Trust Advisors LP now owns 4,313,856 shares of the financial services provider’s stock worth $459,210,000 after purchasing an additional 19,539 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in East West Bancorp by 1.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,005,394 shares of the financial services provider’s stock worth $359,525,000 after purchasing an additional 46,717 shares during the period. Finally, Boston Partners boosted its holdings in East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock valued at $412,464,000 after purchasing an additional 633,649 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EWBC. Citigroup lifted their price objective on East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Piper Sandler lifted their price target on East West Bancorp from $100.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, September 8th. TD Cowen initiated coverage on East West Bancorp in a report on Thursday, September 25th. They set a “buy” rating and a $139.00 price target for the company. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Zacks Research upgraded shares of East West Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.00.

About East West Bancorp

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.