Capital International Investors Reduces Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Capital International Investors lessened its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,088,742 shares of the financial services provider’s stock after selling 493,512 shares during the quarter. Capital International Investors owned about 7.97% of East West Bancorp worth $877,230,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in East West Bancorp by 30.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after buying an additional 751,944 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in shares of East West Bancorp in the 1st quarter worth approximately $39,347,000. Allspring Global Investments Holdings LLC boosted its position in shares of East West Bancorp by 40,757.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock worth $7,437,000 after purchasing an additional 103,117 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of East West Bancorp during the 1st quarter worth approximately $3,961,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in East West Bancorp by 193.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,005 shares of the financial services provider’s stock valued at $1,224,000 after purchasing an additional 11,208 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the sale, the insider now owns 57,403 shares in the company, valued at approximately $4,234,045.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the sale, the insider now directly owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Stock Up 1.1 %

Shares of NASDAQ:EWBC traded up $0.96 during trading on Friday, hitting $87.97. 862,481 shares of the company were exchanged, compared to its average volume of 1,045,881. The firm’s 50 day moving average price is $74.31 and its 200-day moving average price is $74.21. East West Bancorp, Inc. has a 12-month low of $49.59 and a 12-month high of $88.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.93. The stock has a market capitalization of $12.24 billion, a P/E ratio of 10.96, a PEG ratio of 5.07 and a beta of 1.32.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. East West Bancorp’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. On average, research analysts predict that East West Bancorp, Inc. will post 8.05 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.50%. East West Bancorp’s dividend payout ratio is presently 27.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays decreased their target price on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Wedbush lifted their target price on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler increased their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, DA Davidson raised their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.60.

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.