East West Bancorp, Inc. $EWBC Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in East West Bancorp by 1.5%, now owning approximately 175,800 shares valued at $15.78 million.
• Insider trading activity includes CEO Dominic Ng selling 40,000 shares for over $4 million, reducing his ownership by 4.31% to approximately 888,314 shares.
• Analysts have recently increased their price targets for East West Bancorp, with the stock receiving a consensus rating of "Moderate Buy" and a new target price of $116.64.

Alliancebernstein L.P. lowered its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,800 shares of the financial services provider's stock after selling 2,594 shares during the period. Alliancebernstein L.P. owned about 0.13% of East West Bancorp worth $15,780,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider's stock worth $26,000 after acquiring an additional 276 shares during the last quarter. WPG Advisers LLC bought a new position in East West Bancorp in the first quarter worth about $28,000. SVB Wealth LLC bought a new position in East West Bancorp in the first quarter worth about $29,000. Grove Bank & Trust lifted its holdings in East West Bancorp by 448.9% in the first quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock worth $46,000 after acquiring an additional 422 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in East West Bancorp by 89.7% in the first quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock worth $46,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 89.53% of the company's stock.

East West Bancorp Price Performance

Shares of NASDAQ EWBC traded up $0.80 during mid-day trading on Wednesday, reaching $107.53. 1,343,492 shares of the company traded hands, compared to its average volume of 844,655. 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 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $14.82 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.45 and a beta of 0.97. The stock has a fifty day simple moving average of $104.60 and a 200-day simple moving average of $94.91.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.05. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $702.04 million. During the same quarter last year, the business earned $2.07 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, August 4th. East West Bancorp's dividend payout ratio (DPR) is currently 28.04%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EWBC. DA Davidson raised their target price on shares of East West Bancorp from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Jefferies Financial Group began coverage on shares of East West Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 target price on the stock. Wall Street Zen cut shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Barclays raised their price target on shares of East West Bancorp from $110.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price target on shares of East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $116.64.

Insider Activity at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 15,051 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.73, for a total value of $1,606,393.23. Following the transaction, the insider owned 113,353 shares in the company, valued at approximately $12,098,165.69. The trade was a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the completion of the transaction, the chief executive officer owned 888,314 shares in the company, valued at approximately $91,833,901.32. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,240 shares of company stock worth $7,379,678 over the last ninety days. Insiders own 1.04% of the company's stock.

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.