NorthCrest Asset Manangement LLC Decreases Position in East West Bancorp, Inc. (NASDAQ:EWBC)

NorthCrest Asset Manangement LLC reduced its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,830 shares of the financial services provider’s stock after selling 766 shares during the period. NorthCrest Asset Manangement LLC’s holdings in East West Bancorp were worth $1,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oak Thistle LLC acquired a new stake in East West Bancorp during the 1st quarter worth $262,000. State of Michigan Retirement System lifted its holdings in shares of East West Bancorp by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 34,622 shares of the financial services provider’s stock valued at $2,739,000 after purchasing an additional 800 shares during the last quarter. Norden Group LLC acquired a new stake in shares of East West Bancorp in the 1st quarter valued at about $414,000. First Trust Direct Indexing L.P. purchased a new position in East West Bancorp during the 1st quarter worth approximately $206,000. Finally, RBA Wealth Management LLC increased its position in East West Bancorp by 1.7% during the first quarter. RBA Wealth Management LLC now owns 55,023 shares of the financial services provider’s stock worth $4,353,000 after buying an additional 896 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Buying and Selling

In other news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the sale, the executive vice president now directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday. Stephens increased their price target on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley lifted their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Truist Financial upped their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. Finally, StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.46.

East West Bancorp Stock Down 2.2 %

EWBC opened at $95.10 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp, Inc. has a 12 month low of $52.29 and a 12 month high of $98.95. The stock has a market capitalization of $13.18 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.20 and a beta of 1.29. The business has a 50 day simple moving average of $83.94 and a 200-day simple moving average of $78.63.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.41% and a net margin of 24.96%. During the same quarter in the prior year, the business posted $2.02 earnings per share. On average, equities analysts anticipate that East West Bancorp, Inc. will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

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.