East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its position in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 3.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 120,161 shares of the financial services provider’s stock after selling 4,392 shares during the period. Texas Permanent School Fund Corp’s holdings in East West Bancorp were worth $6,334,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EWBC. Captrust Financial Advisors lifted its holdings in shares of East West Bancorp by 6.2% during the first quarter. Captrust Financial Advisors now owns 2,776 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 162 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of East West Bancorp by 3.8% during the second quarter. Coldstream Capital Management Inc. now owns 5,059 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 184 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of East West Bancorp by 0.3% during the fourth quarter. Deutsche Bank AG now owns 69,647 shares of the financial services provider’s stock valued at $4,590,000 after purchasing an additional 198 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of East West Bancorp by 65.1% during the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 211 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of East West Bancorp by 4.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 6,264 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group upped their target price on East West Bancorp from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Truist Financial increased their price objective on East West Bancorp from $62.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Piper Sandler increased their price objective on East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Citigroup reduced their price objective on East West Bancorp from $89.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, Wedbush reissued an “outperform” rating and issued a $86.00 price objective on shares of East West Bancorp in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.08.

Get Our Latest Stock Analysis on East West Bancorp

East West Bancorp Stock Performance

Shares of EWBC stock opened at $69.41 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. East West Bancorp, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $78.91. The stock’s 50-day moving average is $71.20 and its two-hundred day moving average is $61.28. The firm has a market cap of $9.78 billion, a P/E ratio of 8.49, a PEG ratio of 0.89 and a beta of 1.40.

East West Bancorp (NASDAQ:EWBCGet Free Report) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The company had revenue of $654.70 million for the quarter, compared to analyst estimates of $641.91 million. During the same period in the prior year, the firm posted $2.37 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. Analysts predict that East West Bancorp, Inc. will post 7.84 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.55 per share. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.17%. East West Bancorp’s dividend payout ratio is currently 26.89%.

Insider Activity

In other news, Director Molly Campbell sold 4,500 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $62.16, for a total transaction of $279,720.00. Following the transaction, the director now owns 11,946 shares of the company’s stock, valued at approximately $742,563.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Molly Campbell sold 4,500 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $62.16, for a total transaction of $279,720.00. Following the transaction, the director now owns 11,946 shares of the company’s stock, valued at approximately $742,563.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $68.90, for a total value of $68,900.00. Following the transaction, the director now directly owns 18,739 shares in the company, valued at approximately $1,291,117.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,500 shares of company stock valued at $1,108,100. Insiders own 0.91% of the company’s stock.

About East West Bancorp

(Free Report)

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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