Northwestern Mutual Wealth Management Co. Raises Holdings in East West Bancorp, Inc. $EWBC

Northwestern Mutual Wealth Management Co. lifted its stake in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 84,090.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,311,566 shares of the financial services provider’s stock after buying an additional 5,305,257 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in East West Bancorp were worth $596,967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Oak Thistle LLC purchased a new position in shares of East West Bancorp in the fourth quarter valued at approximately $1,530,000. Polar Asset Management Partners Inc. lifted its position in shares of East West Bancorp by 108.8% in the third quarter. Polar Asset Management Partners Inc. now owns 22,137 shares of the financial services provider’s stock valued at $2,356,000 after acquiring an additional 11,537 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of East West Bancorp by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 339,136 shares of the financial services provider’s stock valued at $36,101,000 after acquiring an additional 18,696 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of East West Bancorp by 10.9% in the third quarter. Schroder Investment Management Group now owns 3,395,376 shares of the financial services provider’s stock valued at $361,879,000 after acquiring an additional 334,429 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of East West Bancorp by 3,842.9% in the third quarter. Assetmark Inc. now owns 14,786 shares of the financial services provider’s stock valued at $1,574,000 after acquiring an additional 14,411 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

NASDAQ:EWBC opened at $119.41 on Friday. East West Bancorp, Inc. has a one year low of $88.26 and a one year high of $127.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $16.36 billion, a PE ratio of 11.93, a P/E/G ratio of 1.48 and a beta of 0.97. The stock has a 50 day moving average price of $113.86 and a 200 day moving average price of $112.47.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm had revenue of $773.75 million during the quarter, compared to analysts’ expectations of $767.80 million. During the same quarter last year, the firm earned $2.08 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts expect that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 4th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 4th. East West Bancorp’s dividend payout ratio (DPR) is currently 31.97%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EWBC. Truist Financial raised their target price on East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. DA Davidson raised their target price on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Stephens raised their target price on East West Bancorp from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, January 26th. Barclays decreased their target price on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Citigroup raised their target price on East West Bancorp from $139.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.36.

View Our Latest Research Report on EWBC

Insider Activity at East West Bancorp

In related news, Director Archana Deskus sold 1,800 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total value of $225,990.00. Following the completion of the sale, the director owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dominic Ng sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the sale, the chief executive officer directly owned 707,930 shares of the company’s stock, valued at approximately $87,422,275.70. This represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. 0.94% of the stock is currently owned by company insiders.

About East West Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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