MetLife Investment Management LLC Acquires 6,510 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

MetLife Investment Management LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,135 shares of the financial services provider's stock after purchasing an additional 6,510 shares during the quarter. MetLife Investment Management LLC owned 0.06% of East West Bancorp worth $7,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new stake in East West Bancorp during the 3rd quarter valued at $26,000. Venturi Wealth Management LLC increased its position in East West Bancorp by 73.2% during the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 175 shares during the last quarter. Farther Finance Advisors LLC increased its position in East West Bancorp by 119.1% during the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. UMB Bank n.a. lifted its holdings in East West Bancorp by 83.4% in the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 301 shares during the period. 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 hedge funds and other institutional investors.

East West Bancorp Price Performance

Shares of EWBC traded up $0.36 during midday trading on Monday, hitting $85.62. 214,298 shares of the company traded hands, compared to its average volume of 922,281. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.29 and a beta of 1.09. The firm has a 50 day moving average of $85.38 and a 200-day moving average of $94.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. On average, analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is presently 28.64%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Wells Fargo & Company reduced their target price on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Barclays lifted 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 note on Wednesday, April 23rd. Piper Sandler cut their price objective on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Finally, Morgan Stanley cut East West Bancorp from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $118.00 to $90.00 in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.46.

Insider Buying and Selling

In related news, CEO Dominic Ng sold 20,181 shares of East West Bancorp stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the transaction, the chief executive officer now owns 988,133 shares in the company, valued at approximately $88,941,851.33. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,275 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.53, for a total value of $133,275.75. Following the sale, the director now owns 14,557 shares in the company, valued at approximately $1,521,643.21. This trade represents a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,181 shares of company stock worth $5,625,732. Insiders own 1.04% of the company's stock.

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.