East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,839 shares of the financial services provider’s stock after selling 1,361 shares during the quarter. Alaska Permanent Fund Corp’s holdings in East West Bancorp were worth $3,082,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after purchasing an additional 215,281 shares in the last quarter. FMR LLC boosted its position in shares of East West Bancorp by 3.8% during the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock worth $443,635,000 after purchasing an additional 306,473 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of East West Bancorp by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,463,757 shares of the financial services provider’s stock worth $129,865,000 after purchasing an additional 72,282 shares in the last quarter. Boston Partners boosted its position in shares of East West Bancorp by 36.4% in the 3rd quarter. Boston Partners now owns 1,827,146 shares of the financial services provider’s stock worth $96,313,000 after buying an additional 487,418 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of East West Bancorp by 19.8% in the 3rd quarter. Invesco Ltd. now owns 1,174,237 shares of the financial services provider’s stock worth $61,894,000 after buying an additional 193,850 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the transaction, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.

East West Bancorp Stock Up 2.5 %

NASDAQ EWBC traded up $1.90 on Wednesday, reaching $77.20. The company had a trading volume of 1,730,183 shares, compared to its average volume of 1,221,298. The firm has a market capitalization of $10.74 billion, a PE ratio of 9.38, a P/E/G ratio of 0.95 and a beta of 1.39. East West Bancorp, Inc. has a 1 year low of $41.12 and a 1 year high of $79.54. The firm has a 50-day moving average of $74.58 and a 200-day moving average of $68.28. 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 (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, topping 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 return on equity of 18.47% and a net margin of 29.11%. East West Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 EPS. On average, equities research analysts anticipate that East West Bancorp, Inc. will post 7.87 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.85%. East West Bancorp’s dividend payout ratio (DPR) is currently 26.89%.

Analyst Ratings Changes

EWBC has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday. Compass Point boosted their price objective on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Truist Financial boosted their price objective on shares of East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Citigroup upped their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Piper Sandler upped their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

East West Bancorp Profile

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.