Stieven Capital Advisors L.P. cut its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,814 shares of the financial services provider’s stock after selling 71,500 shares during the quarter. East West Bancorp accounts for 4.0% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 5th largest holding. Stieven Capital Advisors L.P.’s holdings in East West Bancorp were worth $21,249,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the stock. Claro Advisors LLC acquired a new stake in shares of East West Bancorp in the third quarter valued at about $229,000. Mutual of America Capital Management LLC grew its position in East West Bancorp by 0.3% during the third quarter. Mutual of America Capital Management LLC now owns 117,699 shares of the financial services provider’s stock worth $9,738,000 after buying an additional 349 shares in the last quarter. Natixis Advisors LLC grew its position in East West Bancorp by 14.4% during the third quarter. Natixis Advisors LLC now owns 26,279 shares of the financial services provider’s stock worth $2,174,000 after buying an additional 3,303 shares in the last quarter. CIBC Asset Management Inc lifted its stake in East West Bancorp by 5.4% during the third quarter. CIBC Asset Management Inc now owns 5,011 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 258 shares during the period. Finally, KBC Group NV lifted its stake in East West Bancorp by 16.3% during the third quarter. KBC Group NV now owns 4,020 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 562 shares during the period. 89.53% of the stock is owned by institutional investors.
East West Bancorp Stock Down 0.2 %
Shares of EWBC stock opened at $103.34 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50-day moving average is $89.70 and its 200-day moving average is $81.49. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 3.01 and a beta of 1.27. East West Bancorp, Inc. has a 52-week low of $60.34 and a 52-week high of $107.68.
East West Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.55 per share. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.13%. East West Bancorp’s payout ratio is presently 27.78%.
Analysts Set New Price Targets
A number of brokerages have commented on EWBC. Barclays raised their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Compass Point boosted their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.25.
View Our Latest Report on EWBC
Insiders Place Their Bets
In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company’s stock, valued at $1,382,509.50. This represents a 10.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rudolph Estrada sold 469 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the completion of the transaction, the director now directly owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,969 shares of company stock worth $2,625,276 in the last quarter. Corporate insiders own 1.04% of the company’s stock.
East West Bancorp 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.
Read More
- Five stocks we like better than East West Bancorp
- EV Stocks and How to Profit from Them
- Warren Buffett, Cathie Wood Own Nu Holdings, Should You?
- How to Most Effectively Use the MarketBeat Earnings Screener
- MercadoLibre Down 23% After Missed Earnings: Time to Buy the Dip?
- The Basics of Support and Resistance
- ORIC: Working with Two Pharma Giants, Analysts See +100% Upside
Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC – Free Report).
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.