Boston Trust Walden Corp Sells 122,766 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Boston Trust Walden Corp reduced its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 20.7% during the third quarter, HoldingsChannel.com reports. The fund owned 469,327 shares of the financial services provider’s stock after selling 122,766 shares during the quarter. Boston Trust Walden Corp’s holdings in East West Bancorp were worth $38,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EWBC. Wealth Enhancement Advisory Services LLC raised its stake in shares of East West Bancorp by 21.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,366 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 760 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in East West Bancorp by 10.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,845 shares of the financial services provider’s stock worth $6,917,000 after buying an additional 8,134 shares during the last quarter. International Assets Investment Management LLC bought a new stake in East West Bancorp in the third quarter worth about $3,142,000. Private Advisor Group LLC boosted its stake in East West Bancorp by 11.3% in the third quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 462 shares during the last quarter. Finally, RBA Wealth Management LLC grew its position in shares of East West Bancorp by 0.7% during the 3rd quarter. RBA Wealth Management LLC now owns 56,310 shares of the financial services provider’s stock valued at $4,659,000 after acquiring an additional 397 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EWBC. Wedbush upped their price objective on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley upped their price target on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. DA Davidson lifted their price objective on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday. Compass Point upped their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stephens increased their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.46.

Insider Transactions at East West Bancorp

In related news, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $95.10 on Friday. The stock has a market cap of $13.18 billion, a P/E ratio of 12.01, a PEG ratio of 2.20 and a beta of 1.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $83.94 and its two-hundred day moving average price is $78.63. East West Bancorp, Inc. has a twelve month low of $52.29 and a twelve month high of $98.95.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.41%. During the same period last year, the firm posted $2.02 earnings per share. As a group, equities analysts predict that East West Bancorp, Inc. will post 8.21 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.31%. East West Bancorp’s payout ratio is 27.78%.

East West Bancorp 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.