Allspring Global Investments Holdings LLC Sells 7,605 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Allspring Global Investments Holdings LLC cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,716 shares of the financial services provider's stock after selling 7,605 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of East West Bancorp worth $9,557,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in East West Bancorp by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,971 shares of the financial services provider's stock worth $10,062,000 after purchasing an additional 12,651 shares in the last quarter. Pacific Global Investment Management Co. boosted its holdings in East West Bancorp by 2.2% during the first quarter. Pacific Global Investment Management Co. now owns 26,616 shares of the financial services provider's stock valued at $2,389,000 after acquiring an additional 576 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in East West Bancorp by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 5,121 shares of the financial services provider's stock valued at $460,000 after acquiring an additional 421 shares during the period. Crumly & Associates Inc. boosted its holdings in East West Bancorp by 1.9% during the first quarter. Crumly & Associates Inc. now owns 9,229 shares of the financial services provider's stock valued at $828,000 after acquiring an additional 174 shares during the period. Finally, Nilsine Partners LLC boosted its holdings in East West Bancorp by 21.0% during the first quarter. Nilsine Partners LLC now owns 14,473 shares of the financial services provider's stock valued at $1,299,000 after acquiring an additional 2,515 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Insider Activity at East West Bancorp

In other news, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the sale, the executive vice president directly owned 14,849 shares of the company's stock, valued at $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dominic Ng sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the sale, the chief executive officer directly owned 928,314 shares in the company, 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. 1.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price target 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. Barclays upped their price target on shares of East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Citigroup upped their price target on shares of East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, DA Davidson cut 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 research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $108.38.

East West Bancorp Price Performance

NASDAQ:EWBC traded down $1.06 during mid-day trading on Monday, hitting $107.81. The company's stock had a trading volume of 714,536 shares, compared to its average volume of 928,164. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.48 and a beta of 0.93. The stock has a fifty day moving average of $94.39 and a 200-day moving average of $92.53. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week 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, topping the consensus estimate of $2.05 by $0.04. East West Bancorp had a net margin of 25.73% and a return on equity of 15.23%. The company had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. As a group, equities analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.23%. East West Bancorp's dividend payout ratio (DPR) is currently 28.64%.

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.