Victory Capital Management Inc. Has $26.24 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Victory Capital Management Inc. increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 364,702 shares of the financial services provider’s stock after acquiring an additional 69,485 shares during the quarter. Victory Capital Management Inc. owned about 0.26% of East West Bancorp worth $26,240,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EWBC. Vanguard Group Inc. increased its holdings in shares of East West Bancorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after purchasing an additional 215,281 shares during the last quarter. FMR LLC grew its stake in East West Bancorp by 3.8% in the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock valued at $443,635,000 after buying an additional 306,473 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in East West Bancorp by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,463,757 shares of the financial services provider’s stock valued at $129,865,000 after acquiring an additional 72,282 shares during the period. Boston Partners lifted its position in East West Bancorp by 36.4% during the third quarter. Boston Partners now owns 1,827,146 shares of the financial services provider’s stock worth $96,313,000 after acquiring an additional 487,418 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of East West Bancorp by 19.8% in the third quarter. Invesco Ltd. now owns 1,174,237 shares of the financial services provider’s stock valued at $61,894,000 after purchasing an additional 193,850 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.1 %

Shares of EWBC opened at $77.44 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93. East West Bancorp, Inc. has a 52-week low of $42.60 and a 52-week high of $79.54. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.96 and a beta of 1.38. The business’s fifty day moving average is $75.45 and its 200-day moving average is $70.01.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.32 earnings per share. Equities analysts anticipate that East West Bancorp, Inc. will post 7.99 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

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

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 shares were 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 of the company’s stock, valued at $797,400.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Molly Campbell sold 1,625 shares of the firm’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 sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now owns 16,739 shares in the company, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. Insiders sold a total of 13,625 shares of company stock valued at $1,048,508 in the last quarter. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

EWBC has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their target price on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of East West Bancorp in a research report on Wednesday, April 24th. Piper Sandler boosted their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Jefferies Financial Group raised their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given 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 $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.