Amalgamated Bank Sells 3,708 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Amalgamated Bank cut its position in East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,098 shares of the financial services provider’s stock after selling 3,708 shares during the period. Amalgamated Bank’s holdings in East West Bancorp were worth $7,752,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EWBC. HighTower Advisors LLC grew its stake in shares of East West Bancorp by 2.6% in the 4th quarter. HighTower Advisors LLC now owns 5,173 shares of the financial services provider’s stock valued at $406,000 after buying an additional 131 shares during the period. JPMorgan Chase & Co. grew its stake in shares of East West Bancorp by 433.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,164,206 shares of the financial services provider’s stock valued at $91,599,000 after buying an additional 945,778 shares during the period. Allianz Asset Management GmbH grew its stake in shares of East West Bancorp by 488.4% in the 4th quarter. Allianz Asset Management GmbH now owns 82,208 shares of the financial services provider’s stock valued at $6,468,000 after buying an additional 68,237 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of East West Bancorp by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 747,944 shares of the financial services provider’s stock valued at $58,848,000 after buying an additional 3,844 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in shares of East West Bancorp in the 4th quarter valued at about $111,991,000. 89.04% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Price Performance

East West Bancorp stock opened at $72.67 on Friday. East West Bancorp, Inc. has a 52 week low of $61.65 and a 52 week high of $93.51. The company’s 50 day moving average price is $71.92 and its two-hundred day moving average price is $72.77. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.24 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.95 and a beta of 1.50.

East West Bancorp (NASDAQ:EWBCGet Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.68 by $0.13. East West Bancorp had a net margin of 45.32% and a return on equity of 16.45%. The firm had revenue of $551.00 million for the quarter, compared to analysts’ expectations of $525.37 million. During the same quarter last year, the firm earned $1.57 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities analysts predict that East West Bancorp, Inc. will post 7.79 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. East West Bancorp’s dividend payout ratio is currently 24.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler lifted their price target on East West Bancorp to $74.00 in a research note on Monday, July 25th. Wedbush lifted their price target on East West Bancorp to $80.00 in a research note on Friday, July 22nd. Truist Financial lifted their price target on East West Bancorp from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group cut their price target on East West Bancorp from $102.00 to $79.00 in a research note on Monday, July 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

About East West Bancorp

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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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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