New York Life Investment Management LLC Purchases 1,150 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

New York Life Investment Management LLC lifted its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,981 shares of the financial services provider’s stock after acquiring an additional 1,150 shares during the quarter. New York Life Investment Management LLC’s holdings in East West Bancorp were worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of East West Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after acquiring an additional 215,281 shares in the last quarter. FMR LLC grew its stake in shares of East West Bancorp by 3.8% in the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock worth $443,635,000 after acquiring an additional 306,473 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of East West Bancorp by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,463,757 shares of the financial services provider’s stock worth $129,865,000 after acquiring an additional 72,282 shares in the last quarter. Boston Partners grew its stake in shares of East West Bancorp by 36.4% in the 3rd quarter. Boston Partners now owns 1,827,146 shares of the financial services provider’s stock worth $96,313,000 after acquiring an additional 487,418 shares in the last quarter. Finally, Invesco Ltd. grew its position in East West Bancorp by 19.8% during the third quarter. Invesco Ltd. now owns 1,174,237 shares of the financial services provider’s stock valued at $61,894,000 after buying an additional 193,850 shares during the period. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.1 %

Shares of East West Bancorp stock opened at $77.44 on Wednesday. East West Bancorp, Inc. has a 12-month low of $42.60 and a 12-month high of $79.54. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.96 and a beta of 1.38. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $75.45 and its 200-day moving average price is $70.01.

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

East West Bancorp Announces Dividend

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

Insider Buying and Selling

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 in the company, valued at $9,867,632.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,625 shares of company stock worth $1,048,508. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EWBC shares. Compass Point increased their price target on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods increased their price target on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Truist Financial reduced their price target on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Morgan Stanley increased their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group increased their price target on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

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.