Amalgamated Bank Raises Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Amalgamated Bank boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,497 shares of the financial services provider’s stock after purchasing an additional 4,618 shares during the quarter. Amalgamated Bank owned about 0.07% of East West Bancorp worth $6,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. raised its position in East West Bancorp by 65.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 211 shares during the last quarter. Denali Advisors LLC increased its position in East West Bancorp by 66.7% during the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Planned Solutions Inc. bought a new stake in shares of East West Bancorp during the 4th quarter valued at about $40,000. Global Retirement Partners LLC grew its holdings in shares of East West Bancorp by 1,050.0% during the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 609 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of East West Bancorp during the 4th quarter valued at $78,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Stock Performance

EWBC opened at $76.64 on Monday. East West Bancorp, Inc. has a 12-month low of $41.12 and a 12-month high of $79.54. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.96 and a beta of 1.38. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $75.23 and its 200 day moving average is $69.65.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08. The business had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.32 EPS. On average, equities research analysts predict that East West Bancorp, Inc. will post 7.99 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.87%. East West Bancorp’s payout ratio is currently 27.71%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Truist Financial lowered their target price on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Barclays assumed coverage on East West Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target on the stock. Stephens increased their target price on East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Finally, Compass Point lifted their price target on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

Insider Activity at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Molly Campbell sold 1,625 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $77.26, for a total transaction of $125,547.50. Following the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

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.