East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 30.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,937 shares of the financial services provider’s stock after selling 18,244 shares during the quarter. Edgestream Partners L.P.’s holdings in East West Bancorp were worth $3,387,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in East West Bancorp in the third quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of East West Bancorp during the second quarter worth about $30,000. UMB Bank n.a. lifted its position in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of East West Bancorp during the second quarter worth about $31,000. Finally, Signaturefd LLC lifted its position in shares of East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EWBC shares. Citigroup increased their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial increased their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson increased their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Compass Point upped their target price on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Insiders Place Their Bets

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now owns 45,403 shares of the company’s stock, valued at approximately $4,840,413.83. This trade represents a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the transaction, the insider now directly owns 117,193 shares in the company, valued at $11,543,510.50. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Stock Down 0.3 %

EWBC stock opened at $109.68 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a twelve month low of $61.87 and a twelve month high of $113.95. The company’s 50 day moving average is $95.26 and its two-hundred day moving average is $83.71. The stock has a market cap of $15.20 billion, a P/E ratio of 13.85, a PEG ratio of 3.18 and a beta of 1.27.

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 for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter last year, the company earned $2.02 earnings per share. Research analysts expect that East West Bancorp, Inc. will post 8.38 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.01%. East West Bancorp’s payout ratio is currently 27.78%.

East West Bancorp Company 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.