Vest Financial LLC Acquires 91,864 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Vest Financial LLC raised its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 458,727 shares of the financial services provider's stock after purchasing an additional 91,864 shares during the period. Vest Financial LLC owned 0.33% of East West Bancorp worth $41,175,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock worth $64,174,000 after purchasing an additional 632,245 shares during the period. FORA Capital LLC bought a new stake in East West Bancorp during the fourth quarter worth about $1,072,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in East West Bancorp by 18.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider's stock worth $9,699,000 after acquiring an additional 15,475 shares in the last quarter. Fisher Asset Management LLC boosted its stake in East West Bancorp by 10.0% during the fourth quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider's stock worth $72,352,000 after acquiring an additional 68,528 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in East West Bancorp in the fourth quarter worth about $100,000. 89.53% of the stock is owned by institutional investors.

East West Bancorp Trading Up 3.0%

NASDAQ:EWBC traded up $2.73 on Friday, reaching $94.26. 577,825 shares of the company's stock were exchanged, compared to its average volume of 921,640. The business has a fifty day moving average of $85.48 and a 200-day moving average of $93.65. 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 52-week low of $68.27 and a 52-week high of $113.95. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings results 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 return on equity of 15.71% and a net margin of 25.73%. The firm had revenue of $693.00 million during the quarter, compared to the consensus estimate of $673.02 million. As a group, analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, May 2nd. East West Bancorp's payout ratio is 28.64%.

Insider Activity

In related news, CEO Dominic Ng sold 19,819 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total transaction of $1,783,710.00. Following the completion of the transaction, the chief executive officer now owns 968,314 shares in the company, valued at $87,148,260. The trade was a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 2,100 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the transaction, the executive vice president now owns 14,849 shares of the company's stock, valued at $1,411,248.96. This trade represents a 12.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,919 shares of company stock valued at $5,840,494 in the last three months. Corporate insiders own 1.04% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley lowered shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $118.00 to $90.00 in a research report on Monday, April 7th. DA Davidson dropped their price target 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. Wall Street Zen lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays upped their price target on shares of East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped 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 research report on Wednesday, April 9th. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $107.85.

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.