NewEdge Advisors LLC Sells 4,802 Shares of East West Bancorp, Inc. $EWBC

NewEdge Advisors LLC lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,227 shares of the financial services provider’s stock after selling 4,802 shares during the quarter. NewEdge Advisors LLC’s holdings in East West Bancorp were worth $2,053,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in East West Bancorp by 84,090.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock worth $596,967,000 after acquiring an additional 5,305,257 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of East West Bancorp by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after purchasing an additional 106,998 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of East West Bancorp by 7.1% in the fourth quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock valued at $519,329,000 after purchasing an additional 306,916 shares during the last quarter. Boston Partners lifted its position in shares of East West Bancorp by 19.6% in the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock worth $412,464,000 after purchasing an additional 633,649 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of East West Bancorp by 9.4% in the fourth quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider’s stock worth $423,619,000 after purchasing an additional 318,303 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the transaction, the insider directly owned 84,698 shares of the company’s stock, valued at $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total transaction of $135,020.00. Following the completion of the transaction, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. This represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,511 shares of company stock valued at $4,312,741 in the last quarter. 0.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on EWBC. Morgan Stanley increased their target price on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Barclays lifted their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. TD Cowen boosted their price target on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Citigroup restated a “buy” rating on shares of East West Bancorp in a research note on Thursday, July 23rd. Finally, Truist Financial raised their price objective on East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $141.77.

East West Bancorp Price Performance

NASDAQ:EWBC opened at $136.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $131.07 and its two-hundred day moving average price is $121.33. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.57 and a beta of 0.94. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $137.30.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The company had revenue of $789.98 million during the quarter, compared to analysts’ expectations of $784.47 million. During the same period last year, the firm posted $2.24 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. On average, analysts anticipate that East West Bancorp, Inc. will post 10.61 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.20 annualized dividend and a yield of 2.3%. East West Bancorp’s dividend payout ratio (DPR) is currently 30.77%.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.