East West Bancorp, Inc. (NASDAQ:EWBC) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,411 shares of the financial services provider’s stock after purchasing an additional 3,260 shares during the quarter. Cetera Investment Advisers’ holdings in East West Bancorp were worth $2,050,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of East West Bancorp in the 4th quarter worth approximately $166,590,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider’s stock worth $64,174,000 after acquiring an additional 632,245 shares in the last quarter. Boston Partners grew its position in shares of East West Bancorp by 23.1% in the 4th quarter. Boston Partners now owns 2,383,284 shares of the financial services provider’s stock worth $228,269,000 after acquiring an additional 447,057 shares in the last quarter. Invesco Ltd. grew its position in shares of East West Bancorp by 17.0% in the 4th quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider’s stock worth $289,052,000 after acquiring an additional 437,676 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of East West Bancorp in the 4th quarter worth approximately $32,138,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In other news, CEO Dominic Ng sold 40,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.43, for a total value of $3,857,200.00. Following the sale, the chief executive officer now owns 928,314 shares of the company’s stock, valued at approximately $89,517,319.02. The trade was a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa L. Kim sold 2,100 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the completion of the sale, the executive vice president now directly owns 14,849 shares in the company, valued at $1,411,248.96. This represents a 12.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,281 shares of company stock valued at $9,473,478. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Stock Down 0.5%

Shares of East West Bancorp stock opened at $95.06 on Tuesday. The business’s fifty day moving average price is $85.06 and its two-hundred day moving average price is $94.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The company has a market capitalization of $13.10 billion, a P/E ratio of 11.41, a PEG ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The firm had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. As a group, research analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, May 2nd. East West Bancorp’s dividend payout ratio is presently 28.64%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler decreased their target price on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. DA Davidson decreased their target price on East West Bancorp from $118.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Barclays raised their price target on East West Bancorp from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Finally, StockNews.com downgraded East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $105.54.

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.