East West Bancorp, Inc. $EWBC Holdings Cut by Truist Financial Corp

Truist Financial Corp lowered its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,710 shares of the financial services provider’s stock after selling 3,821 shares during the period. Truist Financial Corp’s holdings in East West Bancorp were worth $1,384,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 276 shares during the last quarter. Park Place Capital Corp bought a new position in East West Bancorp in the second quarter worth about $27,000. WPG Advisers LLC bought a new position in East West Bancorp in the first quarter worth about $28,000. SVB Wealth LLC bought a new position in East West Bancorp in the first quarter worth about $29,000. Finally, American National Bank & Trust bought a new position in East West Bancorp in the second quarter worth about $32,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

NASDAQ EWBC opened at $99.28 on Monday. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $13.68 billion, a PE ratio of 11.60, a P/E/G ratio of 1.35 and a beta of 0.93. The company’s 50 day simple moving average is $105.01 and its 200 day simple moving average is $97.03.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. The business had revenue of $627.36 million for the quarter. As a group, equities research analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. East West Bancorp’s dividend payout ratio (DPR) is currently 28.04%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EWBC. Wells Fargo & Company raised their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Cantor Fitzgerald initiated coverage on East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Cowen initiated coverage on East West Bancorp in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, DA Davidson lifted their price target on East West Bancorp from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.33.

Insider Activity at East West Bancorp

In related news, insider Irene H. Oh sold 15,051 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.73, for a total transaction of $1,606,393.23. Following the transaction, the insider owned 113,353 shares in the company, valued at $12,098,165.69. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dominic Ng sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the transaction, the chief executive officer owned 888,314 shares in the company, valued at $91,833,901.32. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,240 shares of company stock worth $7,379,678 over the last ninety days. Insiders own 1.04% of the company’s stock.

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.