( ) has seen a significant increase in short-term interest during the month May. On May 15th there were 3,240,000 short shares. This is an increase of 7.3% compared to the total of 3,020,000 on April 30th. At the moment, 2.3% are short the stock. The days-tocover ratio currently stands at 1.7 days based on a trading volume average of 1,930,000 share.
On Thursday, 4th May, CEO Dominic Ng bought 11,900 shares in the company. The shares were purchased at a cost of 42.09 cents per share for a total of $500,871.00. After the completion of this transaction, the CEO now owns directly 889,609 of the company's shares, valued at about $37,443,642.81. According to a related story, on Thursday, 4th May, CEO Dominic Ng bought 11,900 shares in East West Bancorp. The stock was purchased at an average of 42.09 dollars per share for a transaction totaling $500,871.00. After the completion of this transaction, the CEO now owns directly 889,609 company shares, worth approximately $37.443,642.81. Parker Shi, the COO, also purchased 4,780 East West Bancorp shares in a deal on Thursday, 4th May. The stock was purchased at an average of $41.94 a share for a total of $200,473.20. The chief operating officer owns 4,780 of the company's shares, worth $200,473.20. Insiders purchased 33,030 company shares worth $1,471,642 in the past 90 days. Recently, large investors bought and sold the company's shares. Allspring Global Investments Holdings LLC grew its stake in East West Bancorp during the fourth quarter by 1,681.8%. Allspring Global Investments Holdings LLC owns 392 of the financial services provider stock, worth $26,000. This is after purchasing an additional 370 in the last quarter. Huntington National Bank increased its holdings of East West Bancorp shares by 80.1% in the third quarter. Huntington National Bank owns 580 of the financial service provider's shares worth $39,000, after buying an additional 258 during the last quarter. CoreCap Advisors LLC purchased a new stake in East West Bancorp shares during the fourth quarter, valued at approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new share of East West Bancorp in the 4th Quarter worth about $53,000. IFP Advisors Inc. increased its shares of East West Bancorp during the third quarter by 23.9%. IFP Advisors Inc owns 892 of the financial service provider's shares worth $63,000, after buying an additional 172 during the last three months. Hedge funds and institutional investors own 88.68% the stock.
Wall Street analysts forecast growth
EWBC was the subject of several research reports. Wedbush raised their price target for East West Bancorp to $62.00 in a Friday, April 21, research note. They also gave the company a "neutral" rating. UBS Group began covering East West Bancorp on March 15th in a report. They assigned the stock a rating of 'neutral,' and set a price target of $63.00. In a Friday, May 26th research report, East West Bancorp was downgraded from a "hold" rating to a "sell". Morgan Stanley dropped the price target on East West Bancorp in a report published on April 5th from $85.00 to $65.00. The stock was also given an equal weight rating. Three analysts have given the stock a hold rating, while three others have given it a buy rating. According to MarketBeat data, East West Bancorp's consensus rating is 'Hold' with a consensus price target of $71.13.
East West Bancorp Stock Price
On Wednesday, the stock fell $1.91 to reach $47.85. The stock traded 1,368,407 times its average volume, which is 1,547,076. The 50-day average price of the company is $50.94, and its 200-day average price is $60.90. The company has a $6.77 billion market capitalization, a PE of 5.83 and a PEG of 0.57. Its beta is 1.39. East West Bancorp's 52-week low is $33.86. Its 52-week high is $80.98. The debt-to equity ratio for the company is 0.02, its current ratio is 0.90, and its quick ratio is 0.90.
The last time ) released quarterly earnings was on Thursday, 20th April. The financial services provider posted $2.32 in earnings per share during the first quarter. This was $0.12 more than analysts' expectations of $2.20. East West Bancorp's return on equity was 20.71%, and its net margin was 40.38%. The company had a revenue of $659.84 millions during the quarter compared with analyst estimates of 673.68. In the same quarter of last year, $1.66 per share was reported. Revenue was up 33.2% year-over-year. Analysts on the sell-side predict that East West Bancorp's earnings per share will be 8.89 for this fiscal year.
East West Bancorp Dividend Announcement
Recently, the company announced a quarterly distribution, which was paid out on Monday, 15th May. Dividends were paid to shareholders who had shares in their records on Monday, 1st May. The dividend was $0.48 per share. Ex-dividend was Friday, 28th April. This is a yielding of 4.01% and an annualized dividend of $1.92. East West Bancorp has a dividend payout ratio of 22.51%.
East West Bancorp
East West Bancorp, Inc. is a holding company that provides financial services. It is organized into three business segments: Consumer and Business Banking; Commercial Banking; and Other. The Consumer and Business Banking Segment provides financial services and products to consumers and commercial customers via the company's branch networks in the U.S.
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