East West Bancorp (NASDAQ:EWBC) Releases Earnings Results, Misses Expectations By $0.04 EPS

East West Bancorp (NASDAQ:EWBC) announced its quarterly earnings results on Thursday. The financial services provider reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.04), Zacks reports. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%.

East West Bancorp Stock Up 0.7 %

Shares of NASDAQ EWBC traded up $0.75 during midday trading on Thursday, hitting $103.50. 1,758,907 shares of the stock traded hands, compared to its average volume of 877,349. The company has a market cap of $14.35 billion, a PE ratio of 13.07, a P/E/G ratio of 2.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp has a one year low of $67.27 and a one year high of $113.95. The business has a 50 day moving average price of $101.31 and a two-hundred day moving average price of $90.73.

Analyst Ratings Changes

EWBC has been the subject of a number of recent research reports. Citigroup upped their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Wedbush increased their price objective on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Compass Point increased their price objective on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $109.77.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now directly owns 17,750 shares in the company, valued at $1,740,210. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the sale, the insider now owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,969 shares of company stock valued at $2,458,276 over the last 90 days. Insiders own 1.04% of the company’s stock.

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.