Insider Selling: East West Bancorp, Inc. (NASDAQ:EWBC) CEO Sells 19,819 Shares of Stock

East West Bancorp, Inc. (NASDAQ:EWBC) CEO Dominic Ng sold 19,819 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $90.00, for a total value of $1,783,710.00. Following the completion of the transaction, the chief executive officer now owns 968,314 shares in the company, valued at approximately $87,148,260. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, March 7th, Dominic Ng sold 20,181 shares of East West Bancorp stock. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81.
• On Friday, March 7th, Dominic Ng sold 20,181 shares of East West Bancorp stock. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81.

East West Bancorp Stock Performance

Shares of EWBC opened at $89.99 on Friday. The firm has a market cap of $12.46 billion, a P/E ratio of 10.80, a PEG ratio of 1.29 and a beta of 1.28. East West Bancorp, Inc. has a twelve month low of $68.78 and a twelve month high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The firm’s 50 day moving average price is $96.08 and its two-hundred day moving average price is $95.01.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were given a $0.60 dividend. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp’s payout ratio is currently 28.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EWBC shares. Stephens cut shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Morgan Stanley reduced their price target on East West Bancorp from $127.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler dropped their price objective on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, January 27th. UBS Group assumed coverage on East West Bancorp in a report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 target price on the stock. Finally, StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.31.

Hedge Funds Weigh In On East West Bancorp

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of East West Bancorp in the third quarter valued at about $26,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in East West Bancorp in the 4th quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its stake in East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 175 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 306 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in East West Bancorp by 83.4% during the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

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.