Nisa Investment Advisors LLC Acquires 17,369 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Nisa Investment Advisors LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 22.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,159 shares of the financial services provider’s stock after buying an additional 17,369 shares during the period. Nisa Investment Advisors LLC’s holdings in East West Bancorp were worth $9,208,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Atomi Financial Group Inc. raised its position in shares of East West Bancorp by 11.5% during the 4th quarter. Atomi Financial Group Inc. now owns 4,272 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 439 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of East West Bancorp by 3.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 336 shares during the period. UMB Bank n.a. increased its holdings in East West Bancorp by 83.4% in the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 301 shares during the last quarter. HB Wealth Management LLC acquired a new position in East West Bancorp in the fourth quarter valued at about $256,000. Finally, Avanza Fonder AB bought a new position in East West Bancorp during the fourth quarter worth about $1,018,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Truist Financial upped their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush lifted their target price on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.77.

Insider Buying and Selling

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the sale, the insider now directly owns 117,193 shares of the company’s stock, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,969 shares of company stock worth $2,458,276. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

NASDAQ EWBC opened at $103.50 on Friday. The firm’s 50 day moving average is $101.31 and its 200-day moving average is $90.73. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.35 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30. East West Bancorp, Inc. has a 12-month low of $67.27 and a 12-month high of $113.95.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same period in the previous year, the firm posted $2.02 EPS. Equities research analysts anticipate that East West Bancorp, Inc. will post 8.38 earnings per share for the current fiscal year.

About East West Bancorp

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.