Brandywine Global Investment Management LLC Reduces Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Brandywine Global Investment Management LLC decreased its position in East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,645 shares of the financial services provider’s stock after selling 6,297 shares during the period. Brandywine Global Investment Management LLC owned 0.07% of East West Bancorp worth $6,457,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of East West Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock valued at $1,090,792,000 after buying an additional 86,848 shares during the period. BlackRock Inc. grew its stake in shares of East West Bancorp by 1.1% in the 1st quarter. BlackRock Inc. now owns 12,568,773 shares of the financial services provider’s stock valued at $993,183,000 after buying an additional 136,944 shares during the period. Boston Partners grew its stake in shares of East West Bancorp by 3.7% in the 1st quarter. Boston Partners now owns 5,054,415 shares of the financial services provider’s stock valued at $399,362,000 after buying an additional 179,461 shares during the period. CI Investments Inc. grew its stake in shares of East West Bancorp by 17.2% in the 1st quarter. CI Investments Inc. now owns 3,026,104 shares of the financial services provider’s stock valued at $239,123,000 after buying an additional 443,457 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of East West Bancorp by 95.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,273,736 shares of the financial services provider’s stock valued at $179,670,000 after buying an additional 1,109,530 shares during the period. Hedge funds and other institutional investors own 89.04% of the company’s stock.

Insiders Place Their Bets

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 5,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $72.43, for a total value of $362,150.00. Following the sale, the insider now directly owns 52,435 shares of the company’s stock, valued at approximately $3,797,867.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

East West Bancorp Price Performance

East West Bancorp stock opened at $69.16 on Thursday. The firm has a market cap of $9.75 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. East West Bancorp, Inc. has a 52-week low of $61.65 and a 52-week high of $93.51. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $70.14 and its two-hundred day moving average is $70.26.

East West Bancorp (NASDAQ:EWBCGet Rating) last released its earnings results on Thursday, October 20th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.02). East West Bancorp had a return on equity of 17.69% and a net margin of 44.11%. During the same quarter last year, the business earned $1.57 EPS. On average, research analysts expect that East West Bancorp, Inc. will post 7.78 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were issued a dividend of $0.40 per share. The ex-dividend date was Monday, October 31st. This represents a $1.60 dividend on an annualized basis and a yield of 2.31%. East West Bancorp’s dividend payout ratio (DPR) is presently 22.63%.

Analyst Ratings Changes

Several research firms have recently weighed in on EWBC. Wells Fargo & Company dropped their price target on shares of East West Bancorp from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, October 21st. StockNews.com initiated coverage on shares of East West Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial upped their price objective on shares of East West Bancorp from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. Finally, Piper Sandler upped their price objective on shares of East West Bancorp to $75.00 in a report on Friday, September 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average price target of $87.67.

East West Bancorp Profile

(Get Rating)

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

Featured Stories

Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.