CIBC Asset Management Inc Sells 300 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

CIBC Asset Management Inc lessened its position in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,616 shares of the financial services provider’s stock after selling 300 shares during the period. CIBC Asset Management Inc’s holdings in East West Bancorp were worth $332,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of East West Bancorp by 30.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after buying an additional 751,944 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of East West Bancorp by 40,757.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock valued at $7,437,000 after buying an additional 103,117 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of East West Bancorp by 193.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,005 shares of the financial services provider’s stock valued at $1,224,000 after buying an additional 11,208 shares during the period. Federated Hermes Inc. boosted its holdings in shares of East West Bancorp by 5.0% in the third quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock valued at $1,669,000 after buying an additional 1,501 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of East West Bancorp by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 377,176 shares of the financial services provider’s stock valued at $27,138,000 after buying an additional 46,416 shares during the period. Institutional investors own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now owns 57,403 shares in the company, valued at $4,234,045.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the sale, the insider now owns 127,193 shares in the company, valued at approximately $9,867,632.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the sale, the insider now directly owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

EWBC has been the subject of several research analyst reports. Barclays initiated coverage on shares of East West Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target for the company. Compass Point upped their price target on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Stephens increased their target price on shares of East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Citigroup increased their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods increased their target price on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and an average price target of $84.08.

Read Our Latest Analysis on East West Bancorp

East West Bancorp Stock Performance

Shares of EWBC stock opened at $70.64 on Tuesday. The stock has a market cap of $9.83 billion, a P/E ratio of 8.90, a P/E/G ratio of 3.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. The company has a fifty day moving average price of $74.81 and a two-hundred day moving average price of $72.96. East West Bancorp, Inc. has a one year low of $48.65 and a one year high of $79.54.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.32 earnings per share. As a group, equities analysts predict that East West Bancorp, Inc. will post 8.03 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a dividend of $0.55 per share. The ex-dividend date was Thursday, May 2nd. This represents a $2.20 annualized dividend and a yield of 3.11%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

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 in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.

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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:EWBCFree Report).

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

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