East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 20.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,585 shares of the financial services provider’s stock after selling 1,933 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in East West Bancorp were worth $492,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Lazard Asset Management LLC increased its holdings in shares of East West Bancorp by 1.3% in the second quarter. Lazard Asset Management LLC now owns 1,031,748 shares of the financial services provider’s stock valued at $66,856,000 after buying an additional 13,614 shares in the last quarter. Duality Advisers LP increased its holdings in shares of East West Bancorp by 60.8% in the second quarter. Duality Advisers LP now owns 27,641 shares of the financial services provider’s stock valued at $1,791,000 after buying an additional 10,448 shares in the last quarter. Keebeck Alpha LP increased its holdings in shares of East West Bancorp by 13.4% in the second quarter. Keebeck Alpha LP now owns 9,267 shares of the financial services provider’s stock valued at $601,000 after buying an additional 1,093 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of East West Bancorp by 2.0% in the second quarter. Texas Permanent School Fund now owns 102,568 shares of the financial services provider’s stock valued at $6,646,000 after buying an additional 1,963 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of East West Bancorp by 14.6% in the second quarter. M&T Bank Corp now owns 30,453 shares of the financial services provider’s stock valued at $1,964,000 after buying an additional 3,883 shares in the last quarter. Institutional investors own 89.04% of the company’s stock.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $68.00 on Tuesday. The company’s fifty day moving average is $70.30 and its two-hundred day moving average is $70.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08. East West Bancorp, Inc. has a 12-month low of $61.65 and a 12-month high of $93.51. The company has a market cap of $9.58 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.86 and a beta of 1.44.

East West Bancorp (NASDAQ:EWBCGet Rating) last posted its quarterly earnings results on Thursday, October 20th. The financial services provider reported $2.08 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.02). East West Bancorp had a net margin of 44.11% and a return on equity of 17.69%. During the same quarter in the previous year, the firm earned $1.57 EPS. Equities analysts expect that East West Bancorp, Inc. will post 7.78 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, October 31st. East West Bancorp’s dividend payout ratio is currently 22.63%.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 5,000 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $72.43, for a total value of $362,150.00. Following the completion of the sale, the insider now directly owns 52,435 shares in the company, valued at $3,797,867.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EWBC has been the topic of several research reports. Piper Sandler upped their price target on East West Bancorp to $75.00 in a report on Friday, September 30th. StockNews.com began coverage on shares of East West Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial boosted their target price on shares of East West Bancorp from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th. Finally, Wells Fargo & Company cut their target price on shares of East West Bancorp from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.67.

East West Bancorp Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBCGet Rating).

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

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.