Fiera Capital Corp grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 33.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,410 shares of the financial services provider’s stock after acquiring an additional 127,972 shares during the period. Fiera Capital Corp’s holdings in East West Bancorp were worth $57,927,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Quarry LP grew its holdings in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 102 shares during the period. Quadrant Capital Group LLC grew its holdings in East West Bancorp by 1.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after acquiring an additional 102 shares during the period. Swiss Life Asset Management Ltd grew its holdings in East West Bancorp by 1.7% during the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 104 shares during the period. EverSource Wealth Advisors LLC grew its holdings in East West Bancorp by 4.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 108 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its holdings in East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 113 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. DA Davidson increased their price target on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Citigroup increased their price target on East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Piper Sandler raised their target price on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. 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 note on Thursday, April 23rd. Finally, Barclays reduced their target price 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. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.69.
East West Bancorp Stock Performance
Shares of EWBC opened at $125.94 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50-day moving average of $119.01 and a 200-day moving average of $114.73. The company has a market cap of $17.25 billion, a PE ratio of 12.58, a P/E/G ratio of 1.54 and a beta of 0.94. East West Bancorp, Inc. has a one year low of $90.79 and a one year high of $127.51.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last issued its 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. The company had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $2.08 EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp’s payout ratio is 31.97%.
Insider Buying and Selling at East West Bancorp
In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the transaction, the insider owned 46,974 shares in the company, valued at approximately $5,801,289. The trade was a 17.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction dated 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 transaction, the chief executive officer owned 707,930 shares of the company’s stock, valued at $87,422,275.70. This trade represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 41,800 shares of company stock worth $5,165,690. Insiders own 0.94% of the company’s stock.
East West Bancorp Profile
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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