Cresset Asset Management LLC Trims Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in East West Bancorp in the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC grew its stake in East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock worth $40,000 after buying an additional 175 shares in the last quarter. Farther Finance Advisors LLC grew its stake in East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock worth $54,000 after buying an additional 306 shares in the last quarter. UMB Bank n.a. grew its stake in East West Bancorp by 83.4% in the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock worth $63,000 after buying an additional 301 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in East West Bancorp in the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial assumed coverage on shares of East West Bancorp in a research note on Tuesday. They issued a "hold" rating and a $102.00 price target for the company. Morgan Stanley lowered shares of 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 report on Monday, April 7th. DA Davidson lowered their price objective on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Piper Sandler lowered their price objective on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Wells Fargo & Company lowered their price objective on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.54.

East West Bancorp Trading Up 0.4%

NASDAQ:EWBC traded up $0.40 during midday trading on Friday, reaching $95.50. 590,128 shares of the stock traded hands, compared to its average volume of 919,969. The company has a fifty day moving average of $84.86 and a 200 day moving average of $94.62. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The stock 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.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. The company had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. On average, research analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

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

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction on 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 directly owns 14,849 shares in the company, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the completion of the transaction, the chief executive officer now owns 928,314 shares of the company's stock, valued at $89,517,319.02. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,281 shares of company stock worth $9,473,478 in the last three months. 1.04% of the stock is owned by insiders.

East West Bancorp Company 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.