Ameriprise Financial Inc. Has $37 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Ameriprise Financial Inc. grew its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,417 shares of the financial services provider's stock after buying an additional 4,977 shares during the quarter. Ameriprise Financial Inc. owned 0.28% of East West Bancorp worth $37,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Algert Global LLC increased its position in East West Bancorp by 27.9% during the 4th quarter. Algert Global LLC now owns 57,899 shares of the financial services provider's stock worth $5,544,000 after purchasing an additional 12,624 shares in the last quarter. AXA S.A. grew its holdings in East West Bancorp by 1.6% during the 4th quarter. AXA S.A. now owns 105,317 shares of the financial services provider's stock worth $10,085,000 after acquiring an additional 1,701 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in East West Bancorp by 3.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,258 shares of the financial services provider's stock worth $599,000 after acquiring an additional 223 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in East West Bancorp during the 4th quarter worth approximately $100,000. Finally, PDT Partners LLC bought a new stake in shares of East West Bancorp in the 4th quarter valued at $201,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the sale, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. This represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total value of $199,584.00. Following the completion of the transaction, the executive vice president now owns 14,849 shares in the company, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,281 shares of company stock valued at $9,473,478 over the last ninety days. Insiders own 1.04% of the company's stock.

East West Bancorp Stock Up 0.4%

Shares of EWBC traded up $0.40 during midday trading on Friday, reaching $95.50. 590,128 shares of the stock were exchanged, compared to its average volume of 919,969. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95. The company's 50 day moving average is $84.86 and its two-hundred day moving average is $94.57. The company has a market capitalization of $13.16 billion, a P/E ratio of 11.46, a PEG ratio of 1.29 and a beta of 0.90. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. The firm had revenue of $693.00 million during the quarter, compared to analysts' expectations of $673.02 million. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp's dividend payout ratio is presently 28.64%.

Analyst Upgrades and Downgrades

EWBC has been the topic of a number of research reports. StockNews.com downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Piper Sandler reduced their price target on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Truist Financial started coverage on shares of East West Bancorp in a research report on Tuesday, May 13th. They set a "hold" rating and a $102.00 target price for the company. Wells Fargo & Company cut their target price on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays increased their target price on shares of East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.54.

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.