Erste Asset Management GmbH Has $4.12 Million Stake in East West Bancorp, Inc. $EWBC

Erste Asset Management GmbH increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 16.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,627 shares of the financial services provider’s stock after acquiring an additional 5,463 shares during the quarter. Erste Asset Management GmbH’s holdings in East West Bancorp were worth $4,117,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in East West Bancorp by 82.6% during the third quarter. Grove Bank & Trust now owns 336 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 152 shares during the period. Assetmark Inc. raised its position in shares of East West Bancorp by 179.9% in the second quarter. Assetmark Inc. now owns 375 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 241 shares during the period. Mather Group LLC. acquired a new stake in shares of East West Bancorp during the 3rd quarter worth about $38,000. Wilmington Savings Fund Society FSB lifted its stake in shares of East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after buying an additional 113 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of East West Bancorp during the 3rd quarter worth about $42,000. Institutional investors own 89.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gary Teo sold 7,000 shares of East West Bancorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $122.59, for a total value of $858,130.00. Following the transaction, the executive vice president owned 5,252 shares in the company, valued at approximately $643,842.68. This trade represents a 57.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Molly Campbell sold 1,800 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $122.81, for a total value of $221,058.00. Following the transaction, the director directly owned 5,756 shares of the company’s stock, valued at $706,894.36. This trade represents a 23.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,065 shares of company stock valued at $13,857,314 over the last three months. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Stock Down 6.1%

Shares of NASDAQ EWBC opened at $109.45 on Friday. The stock has a market capitalization of $15.06 billion, a P/E ratio of 11.50, a PEG ratio of 1.42 and a beta of 0.92. The stock’s fifty day moving average is $116.11 and its 200 day moving average is $109.18. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $123.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. The firm had revenue of $753.79 million for the quarter, compared to the consensus estimate of $745.04 million. During the same period in the prior year, the company posted $2.10 earnings per share. Sell-side analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were given a dividend of $0.80 per share. The ex-dividend date was Monday, February 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.9%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.60. East West Bancorp’s dividend payout ratio (DPR) is 33.61%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EWBC shares. Zacks Research cut shares of East West Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 24th. Piper Sandler increased their target price on East West Bancorp from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Barclays lifted their price target on East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of East West Bancorp in a report on Monday, December 29th. Finally, TD Cowen lowered their price objective on East West Bancorp from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.14.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.