East West Bancorp (NASDAQ:EWBC) Announces Earnings Results

by · The Cerbat Gem

East West Bancorp (NASDAQ:EWBC – Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.08, Briefing.com reports. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same quarter in the previous year, the firm posted $2.02 EPS.

East West Bancorp Price Performance

Shares of East West Bancorp stock traded up $1.30 during trading hours on Tuesday, reaching $90.38. 928,068 shares of the company’s stock were exchanged, compared to its average volume of 924,876. The business has a fifty day moving average of $82.72 and a two-hundred day moving average of $78.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $12.58 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. East West Bancorp has a 1 year low of $51.33 and a 1 year high of $93.30.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. DA Davidson upped their price objective on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Stephens raised their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Truist Financial lowered their price target on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.77.

View Our Latest Report on East West Bancorp

Insider Buying and Selling

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares of the company’s stock, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at $1,392,713.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by insiders.

East West Bancorp Company Profile

(Get Free Report)

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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