Whittier Trust Co. of Nevada Inc. boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,981 shares of the financial services provider's stock after buying an additional 5,666 shares during the period. Whittier Trust Co. of Nevada Inc. owned 0.10% of East West Bancorp worth $11,846,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Commonwealth Equity Services LLC increased its holdings in shares of East West Bancorp by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,777 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 128 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of East West Bancorp by 0.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 21,271 shares of the financial services provider's stock worth $1,909,000 after buying an additional 139 shares during the period. Crumly & Associates Inc. boosted its holdings in shares of East West Bancorp by 1.9% in the first quarter. Crumly & Associates Inc. now owns 9,229 shares of the financial services provider's stock worth $828,000 after buying an additional 174 shares during the period. Forum Financial Management LP boosted its holdings in shares of East West Bancorp by 5.3% in the fourth quarter. Forum Financial Management LP now owns 3,763 shares of the financial services provider's stock worth $360,000 after buying an additional 188 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of East West Bancorp by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 37,205 shares of the financial services provider's stock worth $3,563,000 after buying an additional 191 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.
East West Bancorp Stock Up 0.3%
Shares of EWBC traded up $0.32 during midday trading on Friday, reaching $108.54. 597,465 shares of the stock were exchanged, compared to its average volume of 932,457. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $113.95. The firm has a 50 day simple moving average of $97.53 and a 200-day simple moving average of $93.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The company has a market cap of $14.96 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 1.48 and a beta of 0.93.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. East West Bancorp had a return on equity of 15.23% and a net margin of 25.73%. The company had revenue of $693.00 million during the quarter, compared to the consensus estimate of $673.02 million. Research analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current year.
East West Bancorp Announces Dividend
The company 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is presently 28.64%.
Insider Transactions at East West Bancorp
In related news, EVP Lisa L. Kim sold 2,100 shares of the firm's stock in a transaction that occurred 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 directly owned 14,849 shares of the company's stock, valued at approximately $1,411,248.96. This trade represents a 12.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dominic Ng sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00. Following the completion of the transaction, the chief executive officer directly owned 928,314 shares in the company, valued at $89,517,319.02. The trade was 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 company insiders.
Analyst Ratings Changes
Several research analysts have commented on the stock. DA Davidson decreased their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Truist Financial raised their price objective on East West Bancorp from $102.00 to $110.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Barclays raised their price objective on East West Bancorp from $110.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Jefferies Financial Group began coverage on East West Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $115.00 price objective for the company. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $112.85.
View Our Latest Research Report on EWBC
East West Bancorp Company Profile
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Free Report)
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.
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