East West Bancorp (NASDAQ:EWBC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

East West Bancorp (NASDAQ:EWBC) announced its quarterly earnings data on Tuesday. The financial services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $2.02 earnings per share.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC traded up $1.30 during trading on Tuesday, reaching $90.38. The company had a trading volume of 928,068 shares, compared to its average volume of 924,876. The firm’s fifty day moving average is $82.72 and its 200 day moving average is $78.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $12.58 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. East West Bancorp has a twelve month low of $51.33 and a twelve month high of $93.30.

Analyst Upgrades and Downgrades

Several research firms have commented on EWBC. Wells Fargo & Company boosted their price target on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Piper Sandler raised their price target on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Truist Financial decreased their price objective on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Barclays boosted their price target on East West Bancorp from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.77.

Insider Activity at East West Bancorp

In other news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,346 shares of company stock worth $1,108,160 over the last quarter. 1.04% of the stock is currently owned by company insiders.

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.