M&T Bank Corp Sells 482 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

M&T Bank Corp trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,243 shares of the financial services provider’s stock after selling 482 shares during the quarter. M&T Bank Corp’s holdings in East West Bancorp were worth $2,248,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Denali Advisors LLC increased its holdings in shares of East West Bancorp by 66.7% in the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of East West Bancorp by 65.1% in the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 211 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of East West Bancorp by 9.4% in the fourth quarter. Fifth Third Bancorp now owns 2,714 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 233 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of East West Bancorp by 10.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,457 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 234 shares during the last quarter. Finally, Financial Perspectives Inc grew its position in East West Bancorp by 23.0% in the fourth quarter. Financial Perspectives Inc now owns 1,274 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 238 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Price Performance

Shares of EWBC opened at $77.44 on Thursday. The company has a market cap of $10.77 billion, a P/E ratio of 9.75, a PEG ratio of 0.96 and a beta of 1.38. East West Bancorp, Inc. has a fifty-two week low of $42.60 and a fifty-two week high of $79.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average price is $75.55 and its 200 day moving average price is $70.06.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The firm had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. During the same period in the previous year, the firm posted $2.32 EPS. East West Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts forecast that East West Bancorp, Inc. will post 7.99 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Thursday, May 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Citigroup boosted their price target on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Jefferies Financial Group raised their price objective on East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays initiated coverage on East West Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $106.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.08.

Insider Activity

In related news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were 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 owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a legal filing with the SEC, which is accessible 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 that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the transaction, the insider now owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,625 shares of company stock worth $1,048,508. 1.04% of the stock is currently owned by corporate insiders.

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.