East West Bancorp, Inc. (NASDAQ:EWBC) Shares Purchased by State Street Corp

State Street Corp raised its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,314,994 shares of the financial services provider’s stock after purchasing an additional 75,024 shares during the quarter. State Street Corp’s holdings in East West Bancorp were worth $439,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EWBC. Covestor Ltd increased its holdings in East West Bancorp by 7.4% in the 3rd quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 106 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of East West Bancorp by 2.8% in the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after buying an additional 128 shares in the last quarter. Lindenwold Advisors INC raised its holdings in shares of East West Bancorp by 1.8% during the 3rd quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider’s stock valued at $602,000 after buying an additional 129 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in East West Bancorp by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 133 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in East West Bancorp by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 141 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Trading Down 2.4 %

Shares of NASDAQ:EWBC opened at $102.84 on Tuesday. East West Bancorp, Inc. has a fifty-two week low of $67.03 and a fifty-two week high of $113.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.26 billion, a PE ratio of 12.98, a P/E/G ratio of 3.06 and a beta of 1.28. The company’s 50-day moving average price is $98.19 and its 200 day moving average price is $84.98.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data 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 return on equity of 16.07% and a net margin of 24.96%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same period in the previous year, the firm posted $2.02 earnings per share. Sell-side analysts anticipate that East West Bancorp, Inc. will post 8.38 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.14%. East West Bancorp’s dividend payout ratio is presently 27.78%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the business’s 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 sale, the director now directly owns 17,750 shares in the company, valued at approximately $1,740,210. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the sale, the insider now directly owns 45,403 shares of the company’s stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,969 shares of company stock valued at $2,458,276. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Compass Point raised their price target on shares of East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Stephens downgraded shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday. Wedbush increased their price objective on shares of East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler boosted their target price on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.92.

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.