East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in East West Bancorp by 13.2%, now holding 18,592 shares worth approximately $1.67 million.
• East West Bancorp recently reported earnings of $2.28 per share, exceeding consensus estimates and reflecting a 10.3% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.60 per share, with a dividend yield of 2.4%, scheduled to be paid on August 15th.

Cetera Investment Advisers cut its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,592 shares of the financial services provider's stock after selling 2,819 shares during the period. Cetera Investment Advisers' holdings in East West Bancorp were worth $1,669,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of East West Bancorp during the 4th quarter valued at $26,000. Versant Capital Management Inc increased its holdings in East West Bancorp by 89.7% in the 1st quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 245 shares in the last quarter. Grove Bank & Trust increased its holdings in East West Bancorp by 448.9% in the 1st quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 422 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in East West Bancorp in the 4th quarter valued at $100,000. Finally, Farther Finance Advisors LLC increased its holdings in East West Bancorp by 126.8% in the 1st quarter. Farther Finance Advisors LLC now owns 1,277 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 714 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EWBC shares. Truist Financial increased their price target on East West Bancorp from $102.00 to $110.00 and gave the company a "hold" rating in a report on Friday, July 11th. Wells Fargo & Company increased their price target on East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods increased their price target on East West Bancorp from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Barclays increased their price target on East West Bancorp from $110.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Citigroup increased their price target on East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.15.

East West Bancorp Stock Up 3.3%

NASDAQ:EWBC traded up $3.30 on Tuesday, reaching $102.17. The stock had a trading volume of 454,880 shares, compared to its average volume of 975,352. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $100.99 and a 200 day moving average of $93.64. The stock has a market cap of $14.08 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.97. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $113.95.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.05. The company had revenue of $705.00 million during the quarter, compared to analysts' expectations of $702.04 million. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 EPS. On average, research analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, August 4th. East West Bancorp's dividend payout ratio is 28.04%.

Insider Transactions at East West Bancorp

In other news, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total value of $199,584.00. Following the sale, the executive vice president owned 14,849 shares in the company, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the completion of the sale, 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. Corporate insiders own 1.04% of the company's stock.

About East West Bancorp

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.