🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

East West Bancorp executive sells $775,800 in company stock

Published 05/07/2024, 07:01 PM
EWBC
-

East West Bancorp Inc. (NASDAQ:EWBC) reported that its Chief Risk Officer, Irene H. Oh, sold 10,000 shares of the company's common stock on May 7, 2024. The transaction was executed at an average price of $77.58 per share, totaling approximately $775,800.

This sale by a key executive of East West Bancorp, a company known for its presence in the state commercial banks sector, reflects a significant trade within the company's stock. Following this transaction, Oh still holds a substantial number of shares, with 127,193 shares of East West Bancorp remaining in her direct ownership. Additionally, she has an indirect ownership of 2,370 shares through a 401(k) Plan.

Investors often monitor insider sales as they can provide insights into an executive's perspective on the company's current valuation. However, such transactions are not necessarily indicative of a change in company fundamentals or future performance. It is also common for executives to sell shares for reasons such as diversification, liquidity, or personal financial planning.

The details of the sale were made public through a Form 4 filing with the Securities and Exchange Commission, which provides transparency on the trades made by the company's insiders. East West Bancorp has not made any additional comments on the transaction.

InvestingPro Insights

Amidst the news of East West Bancorp Inc. (NASDAQ:EWBC)'s Chief Risk Officer selling a notable amount of shares, investors may seek further context to understand the bank's current financial health and market performance. According to recent InvestingPro data, East West Bancorp presents a mixed financial picture. The company boasts a strong market capitalization of $10.77 billion USD and an attractive P/E Ratio of 9.71, which is slightly adjusted to 9.59 when considering the last twelve months as of Q1 2024. This indicates that the company's stock might be reasonably valued relative to its earnings.

On the growth front, East West Bancorp has experienced a modest revenue growth of 1.06% over the last twelve months as of Q1 2024, although it saw a quarterly revenue decline of -3.78% in Q1 2024. Despite this, the company's operating income margin remains robust at 65.24%, reflecting efficient management of its operations.

An InvestingPro Tip highlights that East West Bancorp has raised its dividend for 6 consecutive years, with a notable dividend growth of 14.58% over the last twelve months as of Q1 2024. This consistent dividend payment, which has been maintained for 26 consecutive years, could be a sign of the company's commitment to returning value to shareholders. Furthermore, the stock has delivered a high return over the last year, with a 1 Year Price Total Return of 80.77%, and is trading near its 52-week high at 97.36% of the peak price.

For readers interested in a deeper dive into East West Bancorp's financials and future prospects, InvestingPro offers additional insights and metrics. There are currently 10 more InvestingPro Tips available, which could provide valuable information for making informed investment decisions. To access these tips and take advantage of a special offer, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.