Van ECK Associates Corp Purchases 11,332 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Van ECK Associates Corp grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,079 shares of the financial services provider's stock after buying an additional 11,332 shares during the quarter. Van ECK Associates Corp's holdings in East West Bancorp were worth $2,956,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of East West Bancorp by 40,757.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider's stock worth $7,437,000 after buying an additional 103,117 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of East West Bancorp by 5.0% in the 3rd quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider's stock worth $1,669,000 after purchasing an additional 1,501 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in East West Bancorp by 92.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 48,562 shares of the financial services provider's stock valued at $2,560,000 after purchasing an additional 23,361 shares during the last quarter. Vanguard Group Inc. grew its position in East West Bancorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider's stock worth $803,502,000 after buying an additional 215,281 shares during the last quarter. Finally, Trillium Asset Management LLC increased its holdings in shares of East West Bancorp by 12.2% in the third quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider's stock valued at $14,715,000 after buying an additional 30,466 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC traded down $0.05 during midday trading on Tuesday, reaching $77.44. 727,851 shares of the company's stock were exchanged, compared to its average volume of 1,207,378. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93. The company's 50 day simple moving average is $75.36 and its two-hundred day simple moving average is $69.82. The firm has a market capitalization of $10.77 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38. East West Bancorp, Inc. has a 12 month low of $42.60 and a 12 month high of $79.54.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The business had revenue of $644.13 million during the quarter, compared to the consensus estimate of $636.77 million. During the same quarter last year, the company earned $2.32 EPS. East West Bancorp's revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that East West Bancorp, Inc. will post 7.99 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, May 2nd. East West Bancorp's payout ratio is presently 27.71%.

Insider Transactions at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares of the company's stock, valued at $797,400.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the transaction, the director now directly owns 16,739 shares of the company's stock, valued at approximately $1,231,655.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Molly Campbell sold 1,625 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Compass Point boosted their price objective on East West Bancorp from $83.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 13th. Morgan Stanley upped their target price on East West Bancorp from $76.00 to $89.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 7th. Stephens boosted their price objective on shares of East West Bancorp from $85.00 to $86.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 24th. Truist Financial dropped their target price on shares of East West Bancorp from $90.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Finally, Barclays started coverage on East West Bancorp in a research report on Friday, March 8th. They issued an "overweight" rating and a $106.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.08.

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.