Van ECK Associates Corp Grows Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Van ECK Associates Corp lifted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,079 shares of the financial services provider’s stock after buying an additional 11,332 shares during the period. Van ECK Associates Corp’s holdings in East West Bancorp were worth $2,956,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in East West Bancorp by 17.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,042 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 759 shares in the last quarter. Whittier Trust Co. increased its stake in East West Bancorp by 4.0% during the 3rd quarter. Whittier Trust Co. now owns 194,506 shares of the financial services provider’s stock worth $10,250,000 after buying an additional 7,409 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in East West Bancorp by 2.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 93,675 shares of the financial services provider’s stock worth $4,937,000 after buying an additional 1,941 shares in the last quarter. First Horizon Advisors Inc. boosted its position in East West Bancorp by 65.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after buying an additional 211 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of East West Bancorp by 4.7% during the third quarter. Jennison Associates LLC now owns 837,984 shares of the financial services provider’s stock valued at $44,170,000 after acquiring an additional 37,735 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Activity at East West Bancorp

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

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $77.49 on Tuesday. East West Bancorp, Inc. has a 1-year low of $42.60 and a 1-year high of $79.54. The firm has a market capitalization of $10.78 billion, a PE ratio of 9.76, a P/E/G ratio of 0.96 and a beta of 1.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. The business’s fifty day moving average price is $75.36 and its two-hundred day moving average price is $69.82.

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

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is 27.71%.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of analyst reports. Piper Sandler increased their price target on East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group increased their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Compass Point upped their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

About East West Bancorp

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.