Bank of New York Mellon Corp Has $115.23 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Bank of New York Mellon Corp lessened its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,573,596 shares of the financial services provider’s stock after selling 20,764 shares during the period. Bank of New York Mellon Corp owned 1.13% of East West Bancorp worth $115,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital International Investors raised its holdings in shares of East West Bancorp by 1.4% during the fourth quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock valued at $833,469,000 after purchasing an additional 159,963 shares during the period. Capital Research Global Investors acquired a new position in East West Bancorp during the 1st quarter worth approximately $338,142,000. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $231,370,000 after acquiring an additional 751,944 shares in the last quarter. Boston Partners grew its stake in East West Bancorp by 48.5% in the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after acquiring an additional 886,841 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of East West Bancorp by 3.0% during the fourth quarter. Schroder Investment Management Group now owns 2,462,062 shares of the financial services provider’s stock valued at $177,145,000 after acquiring an additional 72,746 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares of the company’s stock, valued at $1,382,509.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by company insiders.

Analyst Ratings Changes

EWBC has been the topic of a number of recent research reports. Piper Sandler increased their target price on East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Truist Financial lifted their price objective on shares of East West Bancorp from $80.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens raised their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on East West Bancorp from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average price target of $89.53.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $81.98 on Wednesday. The company has a market capitalization of $11.41 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 2.84 and a beta of 1.32. The company’s 50-day moving average is $78.23 and its 200 day moving average is $75.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a fifty-two week low of $49.59 and a fifty-two week high of $89.75.

East West Bancorp (NASDAQ:EWBC) last released its 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 for 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%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. On average, equities research analysts forecast that East West Bancorp, Inc. will post 8.15 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.68%. East West Bancorp’s dividend payout ratio is presently 27.71%.

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.