Centiva Capital LP Sells 5,599 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Centiva Capital LP lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,683 shares of the financial services provider's stock after selling 5,599 shares during the quarter. Centiva Capital LP's holdings in East West Bancorp were worth $831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in East West Bancorp during the third quarter worth approximately $26,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in East West Bancorp during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC increased its position in East West Bancorp by 73.2% during the fourth 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 during the last quarter. Farther Finance Advisors LLC increased its position in East West Bancorp by 119.1% during the fourth 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 during the last quarter. Finally, UMB Bank n.a. increased its position in East West Bancorp by 83.4% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. DA Davidson reduced their price objective on 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 cut their price target on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Wells Fargo & Company cut their price target on East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. StockNews.com cut East West Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. Finally, Morgan Stanley cut East West Bancorp from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $118.00 to $90.00 in a research note on Monday, April 7th. One investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $105.54.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC traded up $0.43 during trading on Tuesday, hitting $96.00. 910,028 shares of the company were exchanged, compared to its average volume of 917,390. The business's 50 day moving average is $84.16 and its 200-day moving average is $94.65. The company has a market capitalization of $13.29 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95.

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, beating analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $693.00 million during the quarter, compared to the consensus estimate of $673.02 million. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. Equities analysts forecast 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 will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. East West Bancorp's dividend payout ratio (DPR) is currently 28.64%.

Insider Buying and Selling at East West Bancorp

In other news, CEO Dominic Ng sold 20,181 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the transaction, the chief executive officer now owns 988,133 shares of the company's stock, valued at $88,941,851.33. This represents a 2.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 100,181 shares of company stock valued at $9,273,894. 1.04% of the stock is currently 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.