Gateway Investment Advisers LLC Sells 212 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Gateway Investment Advisers LLC lowered its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,724 shares of the financial services provider’s stock after selling 212 shares during the quarter. Gateway Investment Advisers LLC’s holdings in East West Bancorp were worth $644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB lifted its position in East West Bancorp by 108.5% during the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider’s stock valued at $5,282,000 after acquiring an additional 28,549 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in East West Bancorp during the third quarter worth $4,157,000. Quest Partners LLC grew its position in shares of East West Bancorp by 830,133.3% during the 3rd quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider’s stock valued at $2,061,000 after acquiring an additional 24,904 shares during the period. Janney Montgomery Scott LLC increased its position in shares of East West Bancorp by 159.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock valued at $2,448,000 after buying an additional 18,166 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in East West Bancorp by 7.3% in the 3rd quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock worth $149,287,000 after acquiring an additional 123,376 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the sale, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the sale, the insider now owns 45,403 shares of the company’s stock, valued at approximately $4,840,413.83. This trade represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,969 shares of company stock worth $2,458,276 over the last ninety days. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Trading Up 1.3 %

Shares of East West Bancorp stock opened at $100.80 on Friday. The business’s fifty day moving average is $101.50 and its two-hundred day moving average is $90.09. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a fifty-two week low of $67.27 and a fifty-two week high of $113.95. The firm has a market cap of $13.97 billion, a PE ratio of 12.73, a P/E/G ratio of 2.60 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during 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 16.07%. During the same quarter last year, the company earned $2.02 earnings per share. Analysts anticipate that East West Bancorp, Inc. will post 8.38 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, November 4th. East West Bancorp’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

A number of brokerages have commented on EWBC. Wells Fargo & Company increased their target price on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Wedbush boosted their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group started coverage on East West Bancorp in a report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price target on the stock. Citigroup raised their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.77.

East West Bancorp Company 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.