Nuveen Asset Management LLC Has $91.91 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Nuveen Asset Management LLC lessened its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 959,780 shares of the financial services provider's stock after selling 41,156 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.69% of East West Bancorp worth $91,909,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of East West Bancorp during the 4th quarter valued at $26,000. Venturi Wealth Management LLC raised its position in East West Bancorp by 73.2% in the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 175 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 306 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of East West Bancorp by 83.4% during the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 301 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of East West Bancorp during the fourth quarter worth about $100,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at East West Bancorp

In other news, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction 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 represents a 12.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dominic Ng sold 20,181 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the sale, the chief executive officer now owns 988,133 shares of the company's stock, valued at approximately $88,941,851.33. This represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,281 shares of company stock valued at $9,473,478 in the last quarter. 1.04% of the stock is currently owned by company insiders.

East West Bancorp Trading Up 0.8%

EWBC traded up $0.71 during trading on Thursday, reaching $91.38. 206,272 shares of the stock traded hands, compared to its average volume of 916,984. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $85.30 and its 200 day moving average is $94.53. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The stock has a market capitalization of $12.59 billion, a PE ratio of 10.95, a P/E/G ratio of 1.29 and a beta of 0.90.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, beating 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 company had revenue of $693.00 million for the quarter, compared to analyst estimates of $673.02 million. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Friday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is 28.64%.

Analysts Set New Price Targets

EWBC has been the subject of a number of research reports. Piper Sandler dropped 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 report on Monday, January 27th. Truist Financial assumed coverage on shares of East West Bancorp in a research report on Tuesday, May 13th. They issued a "hold" rating and a $102.00 price target for the company. Wall Street Zen downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday. DA Davidson cut their price target on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley cut shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $118.00 to $90.00 in a research note on Monday, April 7th. 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. According to data from MarketBeat.com, the company has a consensus 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.