East West Bancorp (NASDAQ:EWBC) Issues Quarterly Earnings Results

East West Bancorp (NASDAQ:EWBC) posted its quarterly earnings results on Tuesday. The financial services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03, Yahoo Finance reports. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same period last year, the firm earned $2.02 EPS.

East West Bancorp Trading Up 5.8 %

Shares of EWBC stock opened at $95.63 on Thursday. East West Bancorp has a 1-year low of $51.40 and a 1-year high of $98.95. The firm’s 50-day simple moving average is $83.31 and its 200-day simple moving average is $78.36. The firm has a market cap of $13.31 billion, a P/E ratio of 12.04, a PEG ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is 27.71%.

Insider Buying and Selling

In related news, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,346 shares of company stock valued at $1,108,160. Insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on EWBC shares. Truist Financial boosted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup increased their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Piper Sandler upped their price target on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, StockNews.com cut East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.77.

East West Bancorp Company Profile

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.