Victory Capital Management Inc. Buys 69,485 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Victory Capital Management Inc. increased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 23.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 364,702 shares of the financial services provider’s stock after purchasing an additional 69,485 shares during the quarter. Victory Capital Management Inc.’s holdings in East West Bancorp were worth $26,240,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of East West Bancorp by 1.4% during the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after purchasing an additional 215,281 shares during the period. FMR LLC boosted its position in East West Bancorp by 3.8% during the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock valued at $443,635,000 after buying an additional 306,473 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in East West Bancorp by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,463,757 shares of the financial services provider’s stock worth $129,865,000 after acquiring an additional 72,282 shares during the last quarter. Boston Partners increased its position in shares of East West Bancorp by 36.4% in the third quarter. Boston Partners now owns 1,827,146 shares of the financial services provider’s stock valued at $96,313,000 after acquiring an additional 487,418 shares during the period. Finally, Invesco Ltd. raised its stake in shares of East West Bancorp by 19.8% during the third quarter. Invesco Ltd. now owns 1,174,237 shares of the financial services provider’s stock valued at $61,894,000 after acquiring an additional 193,850 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the sale, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,625 shares of company stock valued at $1,048,508. 1.04% of the stock is owned by insiders.

East West Bancorp Stock Performance

Shares of EWBC opened at $77.44 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.77 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.96 and a beta of 1.38. The business’s 50 day moving average price is $75.45 and its 200-day moving average price is $70.01. East West Bancorp, Inc. has a 52 week low of $42.60 and a 52 week high of $79.54.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The business had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter in the previous year, the business earned $2.32 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that East West Bancorp, Inc. will post 7.99 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, May 2nd. East West Bancorp’s payout ratio is 27.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EWBC shares. Truist Financial reduced their price target on East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Barclays started coverage on East West Bancorp in a report on Friday, March 8th. They set an “overweight” rating and a $106.00 target price for the company. Jefferies Financial Group raised their price target on East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Citigroup boosted their price objective on shares of East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Compass Point raised their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average price target of $84.08.

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.