East West Bancorp, Inc. (NASDAQ:EWBC) CEO Sells $1,783,710.00 in Stock

East West Bancorp, Inc. (NASDAQ:EWBC) CEO Dominic Ng sold 19,819 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total transaction of $1,783,710.00. Following the sale, the chief executive officer now owns 968,314 shares in the company, valued at $87,148,260. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 stock was 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 Up 0.1 %

Shares of NASDAQ:EWBC opened at $89.99 on Friday. East West Bancorp, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The stock has a market cap of $12.46 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.29 and a beta of 1.28. The firm has a fifty day moving average price of $96.08 and a 200 day moving average price of $94.92.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of East West Bancorp from $127.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays cut their target price on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. DA Davidson cut their target price on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company upped their price target 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, Keefe, Bruyette & Woods upped their price target on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus target price of $111.31.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. 111 Capital acquired a new position in East West Bancorp in the 4th quarter valued at about $273,000. Wealth Enhancement Advisory Services LLC increased its position in East West Bancorp by 922.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,633 shares of the financial services provider’s stock valued at $4,274,000 after acquiring an additional 40,267 shares during the period. Forum Financial Management LP increased its position in East West Bancorp by 5.3% in the 4th quarter. Forum Financial Management LP now owns 3,763 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 188 shares during the period. GTS Securities LLC acquired a new position in East West Bancorp in the 4th quarter valued at about $562,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in East West Bancorp by 11.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,826 shares of the financial services provider’s stock valued at $46,618,000 after acquiring an additional 51,052 shares during the period. Institutional investors and hedge funds own 89.53% 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.