East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 80.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,290 shares of the financial services provider’s stock after selling 353,536 shares during the quarter. American Century Companies Inc. owned 0.06% of East West Bancorp worth $4,615,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in East West Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock valued at $1,090,792,000 after acquiring an additional 86,848 shares during the period. State Street Corp lifted its holdings in East West Bancorp by 5.3% in the third quarter. State Street Corp now owns 5,145,730 shares of the financial services provider’s stock valued at $345,484,000 after acquiring an additional 259,338 shares during the period. CI Investments Inc. lifted its holdings in East West Bancorp by 21.3% in the fourth quarter. CI Investments Inc. now owns 3,823,749 shares of the financial services provider’s stock valued at $251,985,000 after acquiring an additional 671,054 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in East West Bancorp by 28.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,997,099 shares of the financial services provider’s stock valued at $197,509,000 after acquiring an additional 667,316 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in East West Bancorp by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 2,060,583 shares of the financial services provider’s stock valued at $135,946,000 after acquiring an additional 96,576 shares during the period. 87.11% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Trading Down 3.4 %

East West Bancorp stock opened at $53.26 on Thursday. The stock has a market cap of $7.54 billion, a PE ratio of 5.97, a P/E/G ratio of 0.67 and a beta of 1.45. The stock has a 50-day moving average price of $56.95 and a 200 day moving average price of $55.91. East West Bancorp, Inc. has a 52 week low of $33.86 and a 52 week high of $80.98. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $660.49 million. East West Bancorp had a return on equity of 20.86% and a net margin of 37.14%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 EPS. Equities research analysts predict that East West Bancorp, Inc. will post 8.4 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, July 31st. East West Bancorp’s payout ratio is 21.52%.

Insiders Place Their Bets

In other East West Bancorp news, Director Rudolph Estrada sold 2,411 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $55.96, for a total value of $134,919.56. Following the sale, the director now directly owns 18,548 shares of the company’s stock, valued at approximately $1,037,946.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $56.00 target price on shares of East West Bancorp in a report on Monday, July 24th. Wedbush raised their price target on East West Bancorp from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. StockNews.com cut East West Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, September 2nd. 92 Resources restated a “maintains” rating on shares of East West Bancorp in a research report on Thursday, June 29th. Finally, Truist Financial dropped their price target on East West Bancorp from $64.00 to $62.00 in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, East West Bancorp has an average rating of “Hold” and a consensus price target of $68.86.

East West Bancorp 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.