East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 6.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,178 shares of the financial services provider’s stock after selling 3,596 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in East West Bancorp were worth $2,961,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Trillium Asset Management LLC boosted its position in East West Bancorp by 12.2% during the 3rd quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider’s stock worth $14,715,000 after acquiring an additional 30,466 shares during the period. Comerica Bank purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $40,960,000. LSV Asset Management purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $24,690,000. Barclays PLC raised its stake in shares of East West Bancorp by 46.9% during the 3rd quarter. Barclays PLC now owns 381,811 shares of the financial services provider’s stock worth $20,124,000 after purchasing an additional 121,859 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of East West Bancorp during the 2nd quarter worth about $1,195,000. 87.11% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Performance

EWBC opened at $69.17 on Friday. The firm has a market capitalization of $9.75 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 0.88 and a beta of 1.40. The stock’s 50 day moving average price is $71.00 and its two-hundred day moving average price is $61.14. 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 12-month low of $33.86 and a 12-month high of $80.06.

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

East West Bancorp Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on EWBC. Truist Financial raised their price target on East West Bancorp from $62.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Citigroup cut their price target on East West Bancorp from $89.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Wedbush reissued an “outperform” rating and issued a $86.00 price objective on shares of East West Bancorp in a research note on Wednesday, January 24th. UBS Group raised their price objective on East West Bancorp from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, Stephens assumed coverage on East West Bancorp in a research note on Friday, December 8th. They issued an “overweight” rating and a $79.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.08.

Read Our Latest Research Report on East West Bancorp

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $68.90, for a total transaction of $68,900.00. Following the sale, the director now owns 18,739 shares of the company’s stock, valued at approximately $1,291,117.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $68.90, for a total transaction of $68,900.00. Following the sale, the director now owns 18,739 shares of the company’s stock, valued at approximately $1,291,117.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Molly Campbell sold 4,500 shares of East West Bancorp stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $62.16, for a total value of $279,720.00. Following the sale, the director now directly owns 11,946 shares in the company, valued at approximately $742,563.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,500 shares of company stock valued at $1,108,100. 0.91% of the stock is owned by corporate insiders.

About East West Bancorp

(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.

See Also

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

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