Bank of New York Mellon Corp Has $121.60 Million Stake in East West Bancorp, Inc. $EWBC

Bank of New York Mellon Corp decreased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,081,916 shares of the financial services provider’s stock after selling 102,364 shares during the period. Bank of New York Mellon Corp’s holdings in East West Bancorp were worth $121,596,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in East West Bancorp by 1.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 387,323 shares of the financial services provider’s stock worth $43,531,000 after acquiring an additional 6,237 shares during the last quarter. Natixis Advisors LLC lifted its position in East West Bancorp by 9.6% during the 4th quarter. Natixis Advisors LLC now owns 199,658 shares of the financial services provider’s stock worth $22,440,000 after acquiring an additional 17,486 shares during the last quarter. Measured Wealth Private Client Group LLC raised its position in shares of East West Bancorp by 260.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 5,640 shares of the financial services provider’s stock valued at $634,000 after buying an additional 4,076 shares during the last quarter. Norges Bank acquired a new position in shares of East West Bancorp during the fourth quarter valued at about $199,529,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of East West Bancorp during the fourth quarter valued at about $557,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares of the company’s stock, valued at $5,801,289. The trade was a 17.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dominic Ng sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares in the company, valued at $87,422,275.70. The trade was a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,800 shares of company stock valued at $5,165,690 in the last three months. 0.94% of the stock is owned by corporate insiders.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $125.94 on Friday. The stock has a market cap of $17.25 billion, a P/E ratio of 12.58, a PEG ratio of 1.54 and a beta of 0.94. The company’s 50-day simple moving average is $119.01 and its 200 day simple moving average is $114.63. East West Bancorp, Inc. has a twelve month low of $90.79 and a twelve month high of $127.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm had revenue of $773.75 million for the quarter, compared to analysts’ expectations of $767.80 million. During the same period in the prior year, the firm earned $2.08 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts forecast that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp’s payout ratio is presently 31.97%.

Analyst Ratings Changes

EWBC has been the subject of a number of research analyst reports. DA Davidson upped their price objective on shares of East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Morgan Stanley cut their price objective on shares of East West Bancorp from $141.00 to $128.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. UBS Group upped their price objective on shares of East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. TD Cowen upped their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Piper Sandler upped their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.69.

About East West Bancorp

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.