Amalgamated Bank Sells 20,934 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Amalgamated Bank decreased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,063 shares of the financial services provider's stock after selling 20,934 shares during the period. Amalgamated Bank's holdings in East West Bancorp were worth $5,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EWBC. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of East West Bancorp during the first quarter worth about $3,961,000. Manning & Napier Advisors LLC acquired a new stake in East West Bancorp in the second quarter worth about $3,832,000. Inspire Investing LLC lifted its holdings in East West Bancorp by 197.8% in the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider's stock worth $1,255,000 after purchasing an additional 10,535 shares during the period. SG Americas Securities LLC acquired a new stake in East West Bancorp in the second quarter worth about $852,000. Finally, Empowered Funds LLC acquired a new stake in East West Bancorp in the first quarter worth about $897,000. Institutional investors own 89.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EWBC. Citigroup upped their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. StockNews.com raised shares of East West Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Stephens upped their price objective on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. DA Davidson upped their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.46.

East West Bancorp Trading Up 0.2 %

Shares of EWBC traded up $0.19 during midday trading on Friday, hitting $101.88. The stock had a trading volume of 1,033,498 shares, compared to its average volume of 936,735. East West Bancorp, Inc. has a fifty-two week low of $55.43 and a fifty-two week high of $107.33. The business has a 50-day simple moving average of $87.39 and a two-hundred day simple moving average of $80.46. The firm has a market cap of $14.12 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 2.81 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same period in the prior year, the firm earned $2.02 earnings per share. As a group, equities analysts forecast that East West Bancorp, Inc. will post 8.34 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp's dividend payout ratio (DPR) is 27.78%.

Insider Transactions at East West Bancorp

In other news, 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 value of $45,980.76. Following the completion of the sale, the director now directly owns 17,750 shares of the company's stock, valued at $1,740,210. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Molly Campbell sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the transaction, the director now owns 10,639 shares of the company's stock, valued at approximately $1,049,537.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rudolph Estrada sold 469 shares of the firm's 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 transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,740,210. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,969 shares of company stock valued at $1,345,956 over the last three months. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Company 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.