Sei Investments Co. Sells 3,600 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Sei Investments Co. decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,990 shares of the financial services provider’s stock after selling 3,600 shares during the quarter. Sei Investments Co. owned 0.05% of East West Bancorp worth $5,126,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in East West Bancorp in the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. bought a new position in East West Bancorp in the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new position in East West Bancorp in the 1st quarter valued at about $30,000. Kapitalo Investimentos Ltda bought a new position in East West Bancorp in the 4th quarter valued at about $29,000. Finally, Cullen Frost Bankers Inc. bought a new position in East West Bancorp in the 2nd quarter valued at about $30,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 3.3 %

Shares of EWBC stock opened at $80.04 on Wednesday. The company has a 50 day moving average of $81.51 and a 200-day moving average of $77.11. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp, Inc. has a 12-month low of $49.59 and a 12-month high of $89.75. The firm has a market cap of $11.14 billion, a P/E ratio of 10.08, a PEG ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data 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. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. During the same period in the previous year, the business earned $2.20 EPS. East West Bancorp’s revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that East West Bancorp, Inc. will post 8.17 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.75%. East West Bancorp’s dividend payout ratio is 27.71%.

Insider Activity at East West Bancorp

In related news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the transaction, the executive vice president now directly owns 15,875 shares in the company, valued at approximately $1,392,713.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the transaction, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,346 shares of company stock worth $1,108,160. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on EWBC shares. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush lifted their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Piper Sandler lifted their target price on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Truist Financial dropped their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Stephens lifted their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.87.

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.