California State Teachers Retirement System Trims Holdings in East West Bancorp, Inc. $EWBC

California State Teachers Retirement System cut its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,976 shares of the financial services provider's stock after selling 3,784 shares during the quarter. California State Teachers Retirement System owned about 0.12% of East West Bancorp worth $20,651,302 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in East West Bancorp in the second quarter valued at $27,000. Ancora Advisors LLC purchased a new position in shares of East West Bancorp during the 2nd quarter worth $27,000. Atlantic Union Bankshares Corp acquired a new stake in East West Bancorp in the fourth quarter valued at approximately $31,000. Fiduciary Financial Advisors acquired a new stake in shares of East West Bancorp during the 2nd quarter worth approximately $35,000. Finally, Kelleher Financial Advisors acquired a new stake in East West Bancorp during the second quarter valued at approximately $37,000. Institutional investors own 89.53% of the company's stock.

Insider Buying and Selling

In other East West Bancorp news, Vice Chairman Douglas Krause sold 10,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the sale, the insider directly owned 36,974 shares of the company's stock, valued at approximately $4,894,248.38. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack Liu sold 1,000 shares of East West Bancorp stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total value of $135,020.00. Following the completion of the transaction, the director owned 13,709 shares of the company's stock, valued at approximately $1,850,989.18. This trade represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,810 shares of company stock worth $1,564,344 in the last 90 days. Insiders own 0.94% of the company's stock.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC traded down $1.15 during trading on Tuesday, reaching $128.66. The stock had a trading volume of 299,932 shares, compared to its average volume of 963,059. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $137.47. The stock has a market cap of $17.63 billion, a PE ratio of 12.37, a P/E/G ratio of 1.50 and a beta of 0.93. The firm's 50 day moving average price is $131.29 and its two-hundred day moving average price is $123.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.02. The business had revenue of $789.98 million for the quarter, compared to the consensus estimate of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm's revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $2.24 EPS. On average, research analysts forecast that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 3rd. East West Bancorp's dividend payout ratio (DPR) is 30.77%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EWBC. DA Davidson upped their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $152.00 price objective on shares of East West Bancorp in a research report on Wednesday, August 19th. Citigroup reiterated a "buy" rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of East West Bancorp in a report on Friday, July 10th. Finally, Truist Financial increased their price target on East West Bancorp from $128.00 to $136.00 and gave the stock a "hold" rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.15.

East West Bancorp Company Profile

East West Bancorp, Inc NASDAQ: EWBC is the holding company for East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the company provides banking and financial services to individuals, businesses, and institutions through its East West Bank subsidiary.

East West Bank offers deposit accounts, commercial and consumer lending, residential mortgage services, wealth management, treasury management, and international banking services. Its products support commercial real estate, commercial and industrial businesses, residential borrowers, and consumers.

The bank has a particular focus on serving communities and businesses connected to the United States and Greater China.

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