East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,423 shares of the financial services provider’s stock after selling 5,231 shares during the period. Perpetual Ltd’s holdings in East West Bancorp were worth $519,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. lifted its position in East West Bancorp by 3.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock valued at $974,000 after buying an additional 336 shares in the last quarter. UMB Bank n.a. boosted its position in East West Bancorp by 83.4% during the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 301 shares during the period. HB Wealth Management LLC acquired a new stake in East West Bancorp in the 4th quarter valued at $256,000. Avanza Fonder AB purchased a new position in East West Bancorp in the fourth quarter valued at about $1,018,000. Finally, Park Avenue Securities LLC lifted its stake in shares of East West Bancorp by 49.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,483 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 1,476 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Activity at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the sale, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. This represents a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the transaction, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,969 shares of company stock worth $2,458,276 in the last 90 days. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EWBC. Keefe, Bruyette & Woods raised their target price on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Barclays raised their price target on shares of East West Bancorp from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Truist Financial boosted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.77.

East West Bancorp Stock Down 0.9 %

EWBC opened at $102.75 on Thursday. The stock’s 50 day moving average price is $101.33 and its 200 day moving average price is $90.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $14.24 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.80 and a beta of 1.30. East West Bancorp, Inc. has a 12 month low of $67.27 and a 12 month high of $113.95.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same period last year, the company earned $2.02 earnings per share. As a group, research analysts predict that East West Bancorp, Inc. will post 8.38 earnings per share for the current year.

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.