Prudential PLC Has $3.25 Million Stock Holdings in East West Bancorp, Inc. $EWBC

Prudential PLC decreased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 25.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,221 shares of the financial services provider’s stock after selling 11,117 shares during the quarter. Prudential PLC’s holdings in East West Bancorp were worth $3,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in East West Bancorp by 1,971.4% in the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 276 shares during the period. Park Place Capital Corp bought a new stake in East West Bancorp during the second quarter worth about $27,000. WPG Advisers LLC acquired a new stake in shares of East West Bancorp during the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new position in shares of East West Bancorp in the 1st quarter valued at $29,000. Finally, Chung Wu Investment Group LLC bought a new position in East West Bancorp in the second quarter valued at about $30,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $104.49 on Friday. The stock has a fifty day simple moving average of $103.49 and a two-hundred day simple moving average of $101.26. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35.

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

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, November 3rd. East West Bancorp’s payout ratio is currently 26.46%.

Insider Buying and Selling at East West Bancorp

In other news, Director Molly Campbell sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $105.40, for a total value of $105,400.00. Following the sale, the director owned 9,076 shares of the company’s stock, valued at $956,610.40. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gary Teo sold 6,550 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total transaction of $697,378.50. Following the sale, the executive vice president owned 12,235 shares in the company, valued at $1,302,660.45. The trade was a 34.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 42,220 shares of company stock valued at $4,446,488 in the last three months. 1.04% of the stock is owned by company insiders.

Analyst Ratings Changes

EWBC has been the subject of several research reports. Morgan Stanley increased their target price on East West Bancorp from $111.00 to $126.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. TD Cowen began coverage on shares of East West Bancorp in a report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price target for the company. UBS Group lowered their target price on East West Bancorp from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 28th. Cantor Fitzgerald began coverage on East West Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 target price on the stock. Finally, Truist Financial upped their target price on East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.08.

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.