Wedge Capital Management L L P NC Has $4.53 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Wedge Capital Management L L P NC decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 26.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,289 shares of the financial services provider’s stock after selling 17,418 shares during the quarter. Wedge Capital Management L L P NC’s holdings in East West Bancorp were worth $4,528,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of East West Bancorp during the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of East West Bancorp during the 3rd quarter valued at approximately $26,000. UMB Bank n.a. grew its holdings in East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 283 shares during the period. Tobam increased its holdings in East West Bancorp by 131.7% in the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in East West Bancorp during the second quarter worth about $76,000. Institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling at East West Bancorp

In other news, Director Molly Campbell sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total value of $147,975.00. Following the completion of the sale, the director now directly owns 10,639 shares in the company, valued at $1,049,537.35. This represents a 12.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,969 shares of company stock worth $2,458,276. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EWBC shares. Piper Sandler raised their price target on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wedbush raised their target price on shares of East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Compass Point lifted their price target on East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Citigroup increased their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.77.

East West Bancorp Trading Up 1.3 %

NASDAQ:EWBC opened at $100.80 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $13.97 billion, a P/E ratio of 12.73, a PEG ratio of 2.60 and a beta of 1.30. The company’s 50-day simple moving average is $101.50 and its 200 day simple moving average is $90.22. East West Bancorp, Inc. has a one year low of $67.27 and a one year high of $113.95.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same period in the previous year, the company earned $2.02 earnings per share. As a group, analysts forecast that East West Bancorp, Inc. will post 8.38 EPS for the current fiscal year.

East West Bancorp Announces Dividend

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

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.