Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in East West Bancorp, Inc. $EWBC

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 89,072 shares of the financial services provider’s stock after selling 2,001 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in East West Bancorp were worth $8,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Beverly Hills Private Wealth LLC grew its position in shares of East West Bancorp by 4.9% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 2,630 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 122 shares during the period. Applied Finance Capital Management LLC raised its holdings in East West Bancorp by 3.7% in the 1st quarter. Applied Finance Capital Management LLC now owns 3,444 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 123 shares during the period. Prospera Financial Services Inc lifted its position in East West Bancorp by 2.6% during the second quarter. Prospera Financial Services Inc now owns 5,903 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 147 shares in the last quarter. Ransom Advisory Ltd lifted its position in East West Bancorp by 60.0% during the second quarter. Ransom Advisory Ltd now owns 400 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 150 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in East West Bancorp by 5.8% during the second quarter. QRG Capital Management Inc. now owns 2,722 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

EWBC stock opened at $102.82 on Monday. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95. The firm has a market capitalization of $14.15 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The company has a fifty day simple moving average of $104.22 and a two-hundred day simple moving average of $100.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The business had revenue of $627.36 million for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. Analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. East West Bancorp’s dividend payout ratio (DPR) is currently 26.46%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. TD Cowen started coverage on shares of East West Bancorp in a research note on Thursday, September 25th. They set a “buy” rating and a $139.00 target price on the stock. Cantor Fitzgerald started coverage on shares of East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price target on the stock. UBS Group reduced their price objective on shares of East West Bancorp from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 28th. Finally, Truist Financial raised their price objective on shares of East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.08.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 14,974 shares in the company, valued at $1,572,270. This represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $100.04, for a total transaction of $1,000,400.00. Following the completion of the sale, the insider directly owned 45,500 shares of the company’s stock, valued at $4,551,820. The trade was a 18.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 43,220 shares of company stock valued at $4,551,488 over the last three months. 1.04% of the stock is currently owned by corporate insiders.

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.