Voya Investment Management LLC Sells 3,036 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Voya Investment Management LLC trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,477 shares of the financial services provider's stock after selling 3,036 shares during the quarter. Voya Investment Management LLC's holdings in East West Bancorp were worth $5,408,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EWBC. Wilmington Savings Fund Society FSB purchased a new position in East West Bancorp in the third quarter worth $26,000. Venturi Wealth Management LLC raised 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 worth $40,000 after acquiring an additional 175 shares during the period. Farther Finance Advisors LLC grew its position in shares of East West Bancorp by 119.1% in 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 during the period. UMB Bank n.a. raised its position in shares of East West Bancorp by 83.4% during the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock worth $63,000 after purchasing an additional 301 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in East West Bancorp in the 4th quarter valued at about $100,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

Insider Buying and Selling

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of the business's 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 transaction, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 60,181 shares of company stock worth $5,416,694. 1.04% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson lowered their price target on East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley cut shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $118.00 to $90.00 in a research report on Monday, April 7th. 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 research note on Monday, January 27th. Wells Fargo & Company cut their price objective 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. Finally, StockNews.com downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.46.

East West Bancorp Stock Down 0.8 %

Shares of EWBC traded down $0.70 during midday trading on Tuesday, hitting $87.48. The company had a trading volume of 65,970 shares, compared to its average volume of 910,649. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.29 and a beta of 0.90. The company's 50 day moving average price is $84.43 and its 200 day moving average price is $94.78. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. 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 posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. On average, equities research analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.74%. East West Bancorp's payout ratio is presently 28.64%.

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.