Envestnet Asset Management Inc. Has $14.67 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Envestnet Asset Management Inc. decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 21.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,441 shares of the financial services provider’s stock after selling 44,038 shares during the period. Envestnet Asset Management Inc.’s holdings in East West Bancorp were worth $14,670,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EWBC. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of East West Bancorp in the 4th quarter valued at about $26,000. Versant Capital Management Inc increased its holdings in shares of East West Bancorp by 89.7% in the 1st quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 245 shares during the period. Grove Bank & Trust increased its holdings in shares of East West Bancorp by 448.9% in the 1st quarter. Grove Bank & Trust now owns 516 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 422 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 306 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of East West Bancorp in the 4th quarter valued at about $100,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EWBC shares. Morgan Stanley downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $118.00 to $90.00 in a report on Monday, April 7th. Citigroup upped their target price on East West Bancorp from $100.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Wells Fargo & Company upped their target price on East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Jefferies Financial Group initiated coverage on East West Bancorp in a report on Wednesday, May 21st. They issued a “buy” rating and a $115.00 price objective on the stock. Finally, DA Davidson cut their price objective on shares of East West Bancorp from $118.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $112.85.

East West Bancorp Trading Up 0.7%

Shares of EWBC stock opened at $108.95 on Friday. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $97.91 and its two-hundred day moving average is $93.25. The company has a market cap of $15.02 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. East West Bancorp had a return on equity of 15.23% and a net margin of 25.73%. The company had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. Equities analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.20%. East West Bancorp’s dividend payout ratio (DPR) is presently 28.64%.

Insider Activity at East West Bancorp

In other news, EVP Lisa L. Kim sold 2,100 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total value of $199,584.00. Following the sale, the executive vice president owned 14,849 shares in the company, valued at approximately $1,411,248.96. This trade represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the completion of the sale, the chief executive officer owned 928,314 shares in the company, valued at approximately $89,517,319.02. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

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.