Swiss National Bank Purchases 3,200 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Swiss National Bank grew its holdings in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 311,000 shares of the financial services provider’s stock after purchasing an additional 3,200 shares during the quarter. Swiss National Bank’s holdings in East West Bancorp were worth $16,393,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Captrust Financial Advisors raised its holdings in shares of East West Bancorp by 6.2% in the 1st quarter. Captrust Financial Advisors now owns 2,776 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 162 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of East West Bancorp by 3.8% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,059 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 184 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of East West Bancorp by 0.3% in the 4th quarter. Deutsche Bank AG now owns 69,647 shares of the financial services provider’s stock valued at $4,590,000 after purchasing an additional 198 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of East West Bancorp by 65.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of East West Bancorp by 4.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,264 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 87.11% of the company’s stock.

Insider Activity

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $63.29, for a total value of $759,480.00. Following the sale, the insider now directly owns 55,353 shares of the company’s stock, valued at approximately $3,503,291.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $63.29, for a total transaction of $759,480.00. Following the sale, the insider now directly owns 55,353 shares of the company’s stock, valued at $3,503,291.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now directly owns 11,946 shares in the company, valued at $742,563.36. The disclosure for this sale can be found here. Insiders have sold 17,500 shares of company stock valued at $1,108,100 in the last ninety days. Insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

EWBC has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of East West Bancorp from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Stephens initiated coverage on shares of East West Bancorp in a research note on Friday, December 8th. They set an “overweight” rating and a $79.00 price objective for the company. Piper Sandler boosted their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wedbush reiterated an “outperform” rating and set a $86.00 price objective on shares of East West Bancorp in a research note on Wednesday, January 24th. Finally, Truist Financial boosted their price objective on shares of East West Bancorp from $62.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.08.

Read Our Latest Analysis on EWBC

East West Bancorp Stock Up 0.3 %

EWBC stock opened at $69.41 on Friday. The firm’s fifty day simple moving average is $71.20 and its 200-day simple moving average is $61.27. The company has a market capitalization of $9.78 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 0.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. East West Bancorp, Inc. has a 12 month low of $33.86 and a 12 month high of $78.91.

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

East West Bancorp Increases Dividend

The firm 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 $0.55 dividend. This is an increase from East West Bancorp’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, February 1st. East West Bancorp’s dividend payout ratio is 26.89%.

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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