Cresset Asset Management LLC Sells 3,707 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Cresset Asset Management LLC decreased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 39.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,748 shares of the financial services provider's stock after selling 3,707 shares during the quarter. Cresset Asset Management LLC's holdings in East West Bancorp were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EWBC. Vanguard Group Inc. lifted its stake in shares of East West Bancorp by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,197,068 shares of the financial services provider's stock valued at $1,359,511,000 after purchasing an additional 70,503 shares during the last quarter. FMR LLC boosted its holdings in East West Bancorp by 1.4% in the 4th quarter. FMR LLC now owns 7,990,468 shares of the financial services provider's stock valued at $765,167,000 after purchasing an additional 107,665 shares during the period. Charles Schwab Investment Management Inc. grew its position in East West Bancorp by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,418,840 shares of the financial services provider's stock worth $423,148,000 after purchasing an additional 186,887 shares during the last quarter. Invesco Ltd. lifted its stake in shares of East West Bancorp by 17.0% in the fourth quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider's stock valued at $289,052,000 after buying an additional 437,676 shares during the period. Finally, Schroder Investment Management Group increased its stake in East West Bancorp by 6.9% during the fourth quarter. Schroder Investment Management Group now owns 2,831,862 shares of the financial services provider's stock valued at $272,652,000 after acquiring an additional 183,675 shares during the period. Institutional investors and hedge funds own 89.53% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley lowered East West Bancorp from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $118.00 to $90.00 in a report on Monday, April 7th. StockNews.com lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Piper Sandler decreased their price objective on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. DA Davidson lowered their price objective on 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. Finally, Truist Financial assumed coverage on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $105.54.

Insiders Place Their Bets

In related news, CEO Dominic Ng sold 40,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00. Following the sale, the chief executive officer now directly owns 928,314 shares of the company's stock, valued at approximately $89,517,319.02. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the transaction, the executive vice president now owns 14,849 shares of the company's stock, valued at approximately $1,411,248.96. This trade represents a 12.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,281 shares of company stock valued at $9,473,478. Company insiders own 1.04% of the company's stock.

East West Bancorp Trading Down 0.0%

Shares of NASDAQ EWBC traded down $0.02 during midday trading on Tuesday, hitting $95.04. The stock had a trading volume of 52,333 shares, compared to its average volume of 914,589. The firm has a market cap of $13.10 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The company's 50-day simple moving average is $85.06 and its 200 day simple moving average is $94.55.

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 EPS 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 firm had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. Research analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a $0.60 dividend. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.53%. East West Bancorp's dividend payout ratio is currently 28.64%.

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.