East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC trimmed its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 47.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,200 shares of the financial services provider's stock after selling 14,700 shares during the quarter. Bridgeway Capital Management LLC's holdings in East West Bancorp were worth $1,551,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in shares of East West Bancorp by 12.2% during the 3rd quarter. Barclays PLC now owns 145,310 shares of the financial services provider's stock worth $12,023,000 after buying an additional 15,829 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp during the third quarter worth $26,000. Franklin Resources Inc. lifted its stake in shares of East West Bancorp by 21.9% in the third quarter. Franklin Resources Inc. now owns 42,552 shares of the financial services provider's stock worth $3,800,000 after buying an additional 7,645 shares in the last quarter. Nordea Investment Management AB boosted its position in East West Bancorp by 108.5% during the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider's stock worth $5,282,000 after acquiring an additional 28,549 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in East West Bancorp by 5.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,611 shares of the financial services provider's stock valued at $442,000 after acquiring an additional 245 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC traded down $0.31 during trading hours on Wednesday, reaching $95.69. The stock had a trading volume of 578,659 shares, compared to its average volume of 919,292. 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, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The firm has a 50-day moving average of $84.29 and a 200-day moving average of $94.66. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.29 and a beta of 0.90.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $693.00 million during the quarter, compared to analysts' expectations of $673.02 million. Equities research analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.51%. East West Bancorp's dividend payout ratio is currently 28.64%.

Insider Activity

In related news, CEO Dominic Ng sold 20,181 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the sale, the chief executive officer now directly owns 988,133 shares of the company's stock, valued at approximately $88,941,851.33. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 100,181 shares of company stock valued at $9,273,894 over the last 90 days. Insiders own 1.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EWBC shares. DA Davidson decreased their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on East West Bancorp from $120.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lowered East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $118.00 to $90.00 in a research note on Monday, April 7th. Barclays raised their price objective 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. Finally, Truist Financial assumed coverage on shares of East West Bancorp in a research report on Tuesday. They issued a "hold" rating and a $102.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $105.54.

East West Bancorp 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.