East West Bancorp, Inc. $EWBC Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 41.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,422 shares of the financial services provider’s stock after selling 14,009 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in East West Bancorp were worth $2,073,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of East West Bancorp in the 3rd quarter valued at approximately $26,000. Atlantic Union Bankshares Corp acquired a new position in shares of East West Bancorp in the 4th quarter worth approximately $31,000. Kelleher Financial Advisors purchased a new position in shares of East West Bancorp during the 3rd quarter worth approximately $31,000. Signaturefd LLC boosted its position in shares of East West Bancorp by 115.0% during the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 113 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Trading Up 1.6%

Shares of EWBC stock opened at $131.15 on Wednesday. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $136.00. The company has a 50 day moving average price of $123.68 and a 200 day moving average price of $116.74. The stock has a market capitalization of $17.97 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $773.75 million for the quarter, compared to analyst estimates of $767.80 million. During the same period in the prior year, the business earned $2.08 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. East West Bancorp’s dividend payout ratio is currently 31.97%.

Wall Street Analyst Weigh In

EWBC has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Citigroup raised their price target on East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Barclays dropped their price objective on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. UBS Group boosted their price objective on East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, DA Davidson increased their target price on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.69.

Insider Buying and Selling

In related news, insider Irene H. Oh sold 800 shares of the business’s stock in a transaction on Monday, June 15th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,311 shares of company stock valued at $6,784,711 in the last three months. 0.94% of the stock is currently owned by insiders.

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.