East West Bancorp, Inc. $EWBC Stock: Boston Trust Walden Corp Decreases Holdings

Boston Trust Walden Corp decreased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.6% during the third quarter, Holdings Channel reports. The institutional investor owned 398,821 shares of the financial services provider’s stock after selling 19,448 shares during the quarter. Boston Trust Walden Corp’s holdings in East West Bancorp were worth $49,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its holdings in East West Bancorp by 34.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,456 shares of the financial services provider’s stock worth $1,503,000 after purchasing an additional 2,956 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in East West Bancorp in the third quarter valued at approximately $130,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of East West Bancorp in the third quarter valued at approximately $16,182,000. Americana Partners LLC purchased a new stake in shares of East West Bancorp in the third quarter valued at approximately $264,000. Finally, Parcion Private Wealth LLC acquired a new position in shares of East West Bancorp during the 3rd quarter worth approximately $349,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EWBC has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of East West Bancorp from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Stephens upped their price objective on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. TD Cowen increased their price objective on shares of East West Bancorp from $150.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Cantor Fitzgerald dropped their target price on shares of East West Bancorp from $152.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Finally, Barclays lifted their target price on shares of East West Bancorp from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.77.

Insiders Place Their Bets

In related news, Director Manuel Alvarez sold 810 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $130.40, for a total value of $105,624.00. Following the sale, the director owned 10,629 shares in the company, valued at approximately $1,386,021.60. The trade was a 7.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total value of $135,020.00. Following the completion of the sale, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.94% of the company’s stock.

East West Bancorp Stock Up 1.2%

Shares of EWBC opened at $134.06 on Thursday. East West Bancorp, Inc. has a 52-week low of $98.72 and a 52-week high of $137.47. The company has a market capitalization of $18.37 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The stock has a fifty day simple moving average of $128.22 and a two-hundred day simple moving average of $123.22. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.04. The company had revenue of $822.72 million for the quarter, compared to analyst estimates of $811.07 million. East West Bancorp had a net margin of 30.75% and a return on equity of 16.07%. East West Bancorp’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 EPS. As a group, equities analysts forecast that East West Bancorp, Inc. will post 10.73 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, November 2nd. East West Bancorp’s dividend payout ratio (DPR) is currently 30.45%.

East West Bancorp Company Profile

East West Bancorp, Inc is the parent company of East West Bank, a full-service commercial bank headquartered in Pasadena, California. The bank serves businesses, professionals, consumers and institutions through a range of deposit, lending and financial services.

Its products and services include commercial and industrial loans, commercial real estate financing, residential and consumer lending, checking and savings accounts, treasury management, international banking, wealth management and foreign-exchange services.