East West Bancorp (NASDAQ:EWBC) Shares Gap Down to $62.71

East West Bancorp, Inc. (NASDAQ:EWBCGet Rating)’s share price gapped down prior to trading on Monday . The stock had previously closed at $62.71, but opened at $53.37. East West Bancorp shares last traded at $42.50, with a volume of 1,063,709 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial raised their price target on East West Bancorp from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Morgan Stanley raised their price target on East West Bancorp from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. Finally, Wells Fargo & Company reduced their target price on East West Bancorp from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.00.

East West Bancorp Trading Up 10.7 %

The company has a market capitalization of $8.09 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a fifty day moving average price of $72.65 and a 200-day moving average price of $70.40.

East West Bancorp (NASDAQ:EWBCGet Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.15. East West Bancorp had a return on equity of 19.66% and a net margin of 43.06%. The business had revenue of $826.14 million during the quarter, compared to analyst estimates of $654.24 million. During the same period in the prior year, the company earned $1.52 earnings per share. On average, equities research analysts anticipate that East West Bancorp, Inc. will post 9.11 earnings per share for the current year.

East West Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Monday, February 6th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, February 3rd. This is an increase from East West Bancorp’s previous quarterly dividend of $0.40. East West Bancorp’s dividend payout ratio (DPR) is 24.24%.

Insider Buying and Selling

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $77.00, for a total transaction of $154,000.00. Following the sale, the director now owns 17,136 shares in the company, valued at $1,319,472. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Irene H. Oh purchased 10,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $49.51 per share, for a total transaction of $495,100.00. Following the completion of the transaction, the chief financial officer now directly owns 124,925 shares of the company’s stock, valued at approximately $6,185,036.75. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $77.00, for a total value of $154,000.00. Following the completion of the transaction, the director now owns 17,136 shares in the company, valued at approximately $1,319,472. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in shares of East West Bancorp by 7.5% in the fourth quarter. Victory Capital Management Inc. now owns 573,813 shares of the financial services provider’s stock worth $37,814,000 after purchasing an additional 39,996 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of East West Bancorp by 87.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,915 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 895 shares during the last quarter. Trust Investment Advisors bought a new stake in shares of East West Bancorp in the fourth quarter worth about $603,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of East West Bancorp by 13.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,463 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 416 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of East West Bancorp by 37.1% in the fourth quarter. Alliancebernstein L.P. now owns 289,676 shares of the financial services provider’s stock worth $19,090,000 after purchasing an additional 78,401 shares during the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.

East West Bancorp Company Profile

(Get Rating)

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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