East West Bancorp, Inc. (NASDAQ:EWBC – Get Free Report)’s share price reached a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $82.75 and last traded at $82.32, with a volume of 96290 shares trading hands. The stock had previously closed at $81.92.
The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.85%. The firm had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. During the same period in the previous year, the firm posted $2.20 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis.
East West Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.53%. East West Bancorp’s payout ratio is presently 27.71%.
Analyst Upgrades and Downgrades
Get Our Latest Stock Analysis on East West Bancorp
Insider Buying and Selling
In related news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the transaction, the insider now owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.
Institutional Trading of East West Bancorp
A number of large investors have recently bought and sold shares of EWBC. Capital International Investors grew its holdings in shares of East West Bancorp by 1.4% during the fourth quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock worth $833,469,000 after purchasing an additional 159,963 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of East West Bancorp during the first quarter worth $338,142,000. Massachusetts Financial Services Co. MA boosted its holdings in East West Bancorp by 30.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after acquiring an additional 751,944 shares during the last quarter. Boston Partners boosted its holdings in East West Bancorp by 48.5% in the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after acquiring an additional 886,841 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in East West Bancorp by 3.0% in the fourth quarter. Schroder Investment Management Group now owns 2,462,062 shares of the financial services provider’s stock valued at $177,145,000 after acquiring an additional 72,746 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.
East West Bancorp Stock Performance
The firm has a fifty day moving average of $74.12 and a 200-day moving average of $74.12. The firm has a market cap of $12.11 billion, a P/E ratio of 10.93, a PEG ratio of 5.04 and a beta of 1.32. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.
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.
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