Massachusetts Financial Services Co. MA Grows Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Massachusetts Financial Services Co. MA boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,463,757 shares of the financial services provider’s stock after buying an additional 72,282 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.74% of East West Bancorp worth $129,865,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of EWBC. Norges Bank bought a new stake in East West Bancorp during the 4th quarter valued at $99,407,000. Bank of Montreal Can purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $70,749,000. State Street Corp boosted its holdings in shares of East West Bancorp by 15.0% in the 1st quarter. State Street Corp now owns 5,793,739 shares of the financial services provider’s stock valued at $321,553,000 after buying an additional 756,930 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in East West Bancorp by 28.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,997,099 shares of the financial services provider’s stock valued at $197,509,000 after acquiring an additional 667,316 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in East West Bancorp by 17,898.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 647,933 shares of the financial services provider’s stock worth $42,699,000 after purchasing an additional 644,333 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.

East West Bancorp Trading Down 0.1 %

EWBC stock opened at $69.20 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. East West Bancorp, Inc. has a 52-week low of $33.86 and a 52-week high of $80.06. The company’s 50-day simple moving average is $70.86 and its 200-day simple moving average is $61.08. The firm has a market cap of $9.75 billion, a P/E ratio of 8.46, a PEG ratio of 0.88 and a beta of 1.40.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $654.70 million during the quarter, compared to analysts’ expectations of $641.91 million. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.37 earnings per share. As a group, equities analysts forecast that East West Bancorp, Inc. will post 7.84 EPS for the current fiscal year.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.55 per share. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a yield of 3.18%. The ex-dividend date is Thursday, February 1st. East West Bancorp’s payout ratio is 26.89%.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of research analyst reports. Stephens started coverage on East West Bancorp in a research note on Friday, December 8th. They issued an “overweight” rating and a $79.00 price target for the company. Piper Sandler boosted their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Citigroup cut their price objective on East West Bancorp from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Morgan Stanley lifted their target price on East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Truist Financial upped their price objective on shares of East West Bancorp from $62.00 to $83.00 and gave the company a “buy” rating in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.08.

View Our Latest Stock Analysis on EWBC

Insider Transactions at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $63.29, for a total transaction of $759,480.00. Following the transaction, the insider now directly owns 55,353 shares in the company, valued at approximately $3,503,291.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Molly Campbell sold 4,500 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $62.16, for a total transaction of $279,720.00. Following the completion of the transaction, the director now directly owns 11,946 shares in the company, valued at approximately $742,563.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $63.29, for a total transaction of $759,480.00. Following the completion of the sale, the insider now owns 55,353 shares in the company, valued at $3,503,291.37. The disclosure for this sale can be found here. Insiders have sold 17,500 shares of company stock valued at $1,108,100 over the last ninety days. Insiders own 0.91% of the company’s stock.

East West Bancorp Company Profile

(Free Report)

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It 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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