East West Bancorp (NASDAQ:EWBC) Stock: Insider Dominic Ng Sells 35,023 Shares

East West Bancorp, Inc. (NASDAQ:EWBC) CEO Dominic Ng sold 35,023 shares of East West Bancorp stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $130.57, for a total value of $4,572,953.11. Following the sale, the chief executive officer directly owned 637,930 shares in the company, valued at $83,294,520.10. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Dominic Ng also recently made the following trade(s):

• On Monday, November 9th, Dominic Ng sold 34,977 shares of East West Bancorp stock. The shares were sold at an average price of $132.12, for a total value of $4,621,161.24.

East West Bancorp Price Performance

Shares of EWBC traded up $0.06 during mid-day trading on Friday, reaching $131.21. The company had a trading volume of 737,669 shares, compared to its average volume of 885,746. East West Bancorp, Inc. has a twelve month low of $98.72 and a twelve month high of $137.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average is $128.42 and its 200-day moving average is $123.80. The company has a market capitalization of $17.98 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.36 and a beta of 0.99.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.72 by $0.04. East West Bancorp had a return on equity of 16.07% and a net margin of 30.75%. The business had revenue of $822.72 million for the quarter, compared to analyst estimates of $811.07 million. During the same quarter in the previous year, the firm earned $2.65 EPS. East West Bancorp’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that East West Bancorp, Inc. will post 10.74 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. East West Bancorp’s dividend payout ratio (DPR) is presently 30.45%.

Institutional Trading of East West Bancorp

Several large investors have recently made changes to their positions in the business. Solstein Capital LLC acquired a new position in East West Bancorp during the 2nd quarter worth about $27,000. Ancora Advisors LLC acquired a new stake in East West Bancorp in the 2nd quarter valued at about $27,000. Heritage Family Offices LLP acquired a new stake in East West Bancorp in the 3rd quarter valued at about $30,000. Fiduciary Financial Advisors bought a new position in shares of East West Bancorp in the second quarter worth about $35,000. Finally, Kelleher Financial Advisors bought a new position in shares of East West Bancorp in the second quarter worth about $37,000. Institutional investors own 89.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EWBC shares. Wells Fargo & Company upped their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, November 9th. Truist Financial cut their price target on shares of East West Bancorp from $137.00 to $131.00 and set a “hold” rating for the company in a report on Friday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of East West Bancorp in a report on Tuesday, October 6th. Morgan Stanley boosted their price target on shares of East West Bancorp from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Finally, Cantor Fitzgerald decreased their price objective on shares of East West Bancorp from $152.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $145.71.

About East West Bancorp

East West Bancorp, Inc. is the holding company for East West Bank, a commercial bank headquartered in Pasadena, California. Founded in 1973, the bank initially served Chinese American communities in Southern California and has since expanded its services and geographic reach. East West Bank provides personal and business banking, commercial lending, trade finance, treasury management and other financial services. Its customers include individuals, small and midsize businesses, and larger companies, with a focus on supporting commerce between the United States and Asia.