Algert Global LLC Has $3.75 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Algert Global LLC cut its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,275 shares of the financial services provider’s stock after selling 900 shares during the period. Algert Global LLC’s holdings in East West Bancorp were worth $3,746,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC raised its stake in East West Bancorp by 86.1% in the third quarter. Cerity Partners LLC now owns 12,969 shares of the financial services provider’s stock valued at $1,073,000 after buying an additional 6,002 shares during the period. Raymond James Trust N.A. increased its holdings in shares of East West Bancorp by 22.6% during the 3rd quarter. Raymond James Trust N.A. now owns 7,528 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 1,390 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in East West Bancorp by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,231,953 shares of the financial services provider’s stock valued at $350,152,000 after acquiring an additional 96,729 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in East West Bancorp by 28.1% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 4,870 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 1,068 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in East West Bancorp by 28.1% during the third quarter. Advisors Asset Management Inc. now owns 4,566 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 1,002 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Trading Up 1.0 %

EWBC opened at $111.23 on Tuesday. The stock has a market capitalization of $15.42 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 3.20 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a twelve month low of $60.34 and a twelve month high of $113.95. The company has a 50-day simple moving average of $93.03 and a 200 day simple moving average of $82.80.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same quarter last year, the business posted $2.02 EPS. Analysts predict that East West Bancorp, Inc. will post 8.37 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $0.55 per share. The ex-dividend date was Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 1.98%. East West Bancorp’s dividend payout ratio is currently 27.78%.

Insider Buying and Selling

In other news, Director Rudolph Estrada sold 469 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the transaction, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the sale, the director now directly owns 10,639 shares in the company, valued at $1,049,537.35. This trade represents a 12.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,969 shares of company stock worth $2,458,276 in the last ninety days. 1.04% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on EWBC. Citigroup raised their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stephens raised their price objective on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley upped their target price on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Piper Sandler lifted their price target on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Compass Point upped their price objective on East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

East West Bancorp Company 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.